The United States and China have reached a significant agreement concerning the ownership of TikTok’s American operations. This follows months of intense negotiations amid U.S. national security worries related to the popular social media platform.
Key Points of the Agreement
- The deal ensures TikTok will continue to operate in the U.S., addressing security concerns.
- President Donald Trump announced the agreement, highlighting collaboration with a company favored by young Americans.
- Treasury Secretary Scott Bessent confirmed the framework after trade discussions in Madrid focusing on tariffs and technology transfer.
Details About Ownership and Future
American investors, including Oracle and other partners, are expected to potentially acquire TikTok’s U.S. business. However, the exact buyer has not been finalized yet.
Political Reactions and Next Steps
While the agreement avoids a full ban on the app and encourages cooperation, some U.S. lawmakers, particularly Republicans, remain cautious and call for enhanced scrutiny and regulatory enforcement.
This development marks a major milestone in resolving a long-standing dispute that began during the previous administration. Both the U.S. and China will continue negotiations to finalize the terms, with further updates expected soon.
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