US President Donald Trump has announced a deal allowing TikTok to continue operating in the U.S., after months of negotiations with China. The agreement required TikTok’s U.S. operations to be transferred from Chinese owner ByteDance to American companies.
In a briefing at White House yesterday, the US President said that a deal regarding TikTok had been reached, mentioning interest from several major U.S. companies, though no details were given. The announcement came just a day before the deadline for ByteDance to sell TikTok or face a shutdown. However, the White House later extended the deadline to December 16, giving ByteDance 90 more days to finalise the sale.
According to the media reports, the U.S. version of TikTok will be managed by an American-led board, with one board member appointed by the U.S. government. This setup mirrors a previous deal where the U.S. allowed a foreign company to buy a major American firm under similar national security terms.
