WASHINGTON, DC - Following recent threats to immediately ban the popular music app, President Donald Trump has given TikTok about a month to negotiate a deal with a "very American" company or face a complete ban in the United States.

"I set a date of around Sept. 15, at which point it's going to be out of business," Trump told White House reporters. "But if somebody, and whether it's Microsoft or somebody else, buys it, that'll be interesting."

Among top contenders to buy the app, Microsoft remains the most promising. The company has provided a formal notice to the Committee of Foreign Investment of their intent to strike up a deal with TikTok's parent company, ByteDance. 

Microsoft said in a statement it is "committed to acquiring TikTok subject to a complete security review." The tech giant assured that any private information on TikTok's American users will be transferred upon purchase of the app, and information stored outside of the country will be deleted. 

Microsoft added that talks of purchasing the app are still preliminary and there "can be no assurance that a transaction which involves Microsoft will proceed." 

If TikTok is purchased by an American company before the deadline, President Trump insists a "substantial portion" of the money will go directly into the United States Treasury.

"Without a lease, the tenant has nothing," Trump said. 

Despite recent threats, TikTok claims it isn't going anywhere. A statement issued from a TikTok spokesperson optimistically said, "TikTok will be here for many years to come."

The app currently has over 80 million active users in the U.S.