In a major development in international tech diplomacy, the United States and China have reached a significant framework deal concerning the ownership of TikTok’s American operations. This agreement follows intense discussions held in Madrid, aiming to resolve long-standing concerns about TikTok’s future in the US market, particularly over security issues highlighted by Washington.
Key Points of the Agreement
- The deal is poised to enable US ownership of TikTok’s US operations.
- Key investors, including Oracle, have shown interest in acquiring TikTok’s American arm.
- US Treasury Secretary Scott Bessent confirmed the framework, marking a breakthrough after months of negotiations and legal challenges.
Reactions and Ongoing Concerns
President Donald Trump acknowledged the deal publicly, noting a discussion with China’s President Xi Jinping and progress toward securing TikTok’s continued presence in the United States. However, some US lawmakers remain cautious, seeking further clarity on the terms due to ongoing concerns over national security and data privacy.
Next Steps
- ByteDance, TikTok’s Chinese parent company, is expected to transfer ownership following the agreement.
- The specifics and timeline related to the transfer of ownership and operational control will be announced soon.
- Millions of American TikTok users will continue to have access to the app under the new ownership structure.
Stay tuned to Questiqa World News for the latest updates on this evolving story.
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