The 78-year-old businessman - who called for the ByteDance-owned short video app to be banned in his first year of presidency - added he is happy to go beyond the April 5 deadline for a non-Chinese buyer to take control of it.
It comes as President Trump - who now has an account on the social media platform - delayed a law created under his predecessor Joe Biden's administration in 2024 for the banning of TikTok - which was due to national security fears - in January 2025.
According to BBC News, he told reporters: "With respect to TikTok, and China is going to have to play a role in that, possibly in the form of an approval, maybe, and I think they'll do that.
"Maybe I'll give them a little reduction in tariffs or something to get it done."
President Trump is hopeful that a deal will be outlined before the April 5 deadline, however, if an agreement does not come to fruition, TikTok will be slapped with a ban in the US - which has approximately 170 million American users - on national security grounds.