The Chinese government is considering selling TikTok's U.S. operations to Elon Musk. Sources say that if TikTok is banned, Musk may acquire its U.S. business. It is currently unclear whether Musk, TikTok, and ByteDance have engaged in any negotiations. Meanwhile, two Chinese social media apps, Xiaohongshu and Lemon8, occupy the top two spots on the U.S. Apple iPhone download chart, as users are searching for alternatives.

Good morning. Elon Musk may be about to get an even more powerful platform—TikTok. Donald Trump’s team is looking at gradual tariff hikes. And cannabis cocktails are everywhere, but are they actually legal? Listen to the day’s top stories.Elon Musk’s social media empire may be about to expand. Chinese officials are evaluating a potential option that involves Musk acquiring the US operations of TikTok if the app is banned, people familiar said. It’s unclear whether the multibillionaire, TikTok and ByteDance have held any talks. Meanwhile, two Chinese social apps, Xiaohongshu and Lemon8, took the top two positions on Apple's iPhone download charts in the US as   users seek an alternative.

China is considering selling TikTok's U.S. operations to Elon Musk.