President Trump told reporters on Air Force One that he plans to speak to China about TikTok on Wednesday.

"There's a lot of people interested in TikTok, and I think we have a chance of doing something good. And we'll be speaking to China about that also because they're a party to it obviously. But it would be great to keep TikTok alive, sell it to somebody that's going to do a great job with it," he said Wednesday.

The president issued an executive order back in January to extend the period before the app was set to be banned to make a deal.

Trump says he would like "the United States to have a 50% ownership position in a joint venture." 

"By doing this, we save TikTok, keep it in good hands and allow it to [stay] up. Without U.S. approval, there is no TikTok. With our approval, it is worth hundreds of billions of dollars - maybe trillions," Trump wrote. "Therefore, my initial thought is a joint venture between the current owners and/or new owners whereby the U.S. gets a 50% ownership in a joint venture set up between the U.S. and whichever purchase we so choose." 

Following that executive order, TikTok's account on X posted a statement saying: "In agreement with our service providers, TikTok is in the process of restoring service." 

"We thank President Trump for providing the necessary clarity and assurance to our service providers that they will face no penalties providing TikTok to over 170 million Americans and allowing over 7 million small businesses to thrive," the statement said. "It’s a strong stand for the First Amendment and against arbitrary censorship. We will work with President Trump on a long-term solution that keeps TikTok in the United States." 

It is still unclear who will own the app after Trump holds talks with China.

Fox News Digital's Danielle Wallace contributed to this report.