On Friday, US President Donald Trump announced that he and Chinese Premier Xi Jinping had reached an agreement regarding the operational future of TikTok in the United States during a phone conversation. Trump stated that he plans to meet Xi at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea next month and that he intends to visit China next year. He described the call as “productive” and expressed gratitude for Xi’s approval of a deal that is expected to involve selling TikTok’s US operations to a consortium of American investors.
TikTok, which is operated by the Chinese company ByteDance, had previously been ordered to divest its US operations or face a ban. Trump has postponed the implementation of this ban multiple times since it was first proposed in January, with the latest deadline extension to December. In his statement, he noted progress on trade issues and confirmed his commitment to meet Xi at the upcoming APEC summit.
While specific details of the TikTok deal were not disclosed, it is reported that Oracle and other US firms may be involved, enabling TikTok to continue in the US while utilizing algorithm technology licensed from ByteDance. The Chinese state news agency Xinhua reiterated China’s position, emphasizing the need for commercial negotiations that follow market principles while calling for a non-discriminatory business environment for Chinese companies in the US.
Despite Trump’s positive outlook on TikTok’s value, some US lawmakers express concerns about the deal due to ByteDance’s ties to the Chinese Communist Party. Representative John Moolenar voiced apprehensions that the proposed licensing arrangement may perpetuate CCP influence over TikTok.
Previously, the US Supreme Court upheld a law requiring ByteDance to divest from its US operations as a condition for TikTok’s continued functioning in the country. The US Department of Justice has cited national security risks regarding TikTok’s access to American user data.
This conversation between Trump and Xi marks their second discussion this year, following a June meeting on the export of rare earth minerals.
Source: https://www.bbc.com/news/articles/c4g7l7yl832o?at_medium=RSS&at_campaign=rss