"[Microsoft] is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury," the company said, adding that it will "move quickly" to talk with ByteDance "in a matter of weeks."
"During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President," the company added.
The Washington-based firm's blog post suggests TikTok could avert the ban that Trump threatened Friday night, when he said he could use emergency economic powers or an executive order to block the app from operating in the United States.
Microsoft's remarks also come after the Wall Street Journal reported that the company's talks with ByteDance had been put on hold after Trump's comments.
A deal would create a new structure wherein Microsoft would own and operate TikTok services in the United States, Canada, Australia and New Zealand.
As part of the agreement, Microsoft said it would ensure that all private data of TikTok's American users would be transferred to and remain in the United States.
TikTok has previously stressed that its US user data is already stored on US-based servers and backed up in Singapore, and is therefore not subject to Chinese law as some US officials have feared.
"This new structure would build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections," Microsoft said.