US President Donald Trump announced on Tuesday an agreement with China to maintain Tiktok work in the United States.
The agreement requires the transfer of US assets to Tiktok to US owners from China in China, which may resolve the epic that has remained for nearly a year.
A deal to implement the famous social media, which is the number of US users, which is 170 million American users, represents a breakthrough in months that lasted between the largest economists in the world as they seek to defuse a large -scale trade war that sparked global markets.
“We have a deal on Tiktok … we have a group of very large companies you want to buy,” Trump said in the White House. This announcement comes a day before the deadline on September 17 to sell or close the short video application.
Later in the day, the White House extended on this deadline until December 16. The White House refused to provide any other details about the agreement with China.
Lee Chenggang, the international representative of trading in China, said that the two sides had come to a “basic framework consensus” to solve issues related to Tiktok properly in a cooperative way, reduce investment barriers and enhance the economic and commercial cooperation related
The delay will give away another 90 days to finish the touches on an agreement to transfer the US assets of Tiktok to the owners of the United States, indicating that a lot of work must be done to close the complex treatment.
The Wall Street Journal reported that the American entity will have an American board of directors, with one member appointed by the United States government.
You will keep by atteedance the largest royal share: Sources
No congress with Republican Congress, which passed a law in 2024 during the Biden administration that required the stripping of Tiktok due to fears that American user data will be accessed by the Chinese government, allowing Beijing to spy on Americans or perform influences through the application.
The basics of the new deal include that bytedance will keep the largest individual royal share of 19.9 percent, below the doorstep of the law of 20 percent directly.
The Trump administration has refused to enforce the law due to fears that it would anger the base of the huge users in Tijook and disrupt political communications, instead extending the deadline for abstraction on three separate occasions.
Elon Musk, Jeff Bezos, and Mark Zuckerberg had a seat in the front row at the presidential opening of Donald Trump. When Tiktok returned to American users after almost blocked, a message emanating on the application attributed to Trump to return it. So, what effect can have the increasing relationship between the new American administration and these executives of the technological media on Canadians? The morning edition spoke to Brian McQueen from the Department of Politics and International Studies at Regeina University and co -manager of the Center for IQ, data and conflict.
Trump, he attributed Tijok to help him win his re -election last year and has 15 million followers on his personal account. The White House also launched the official Tiktok account last month.
US Treasury Secretary Scott Bessent told CNBC on Tuesday that the commercial conditions of the deal were, in essence, since March, with some disposal details remained.
“This deal will not take place without appropriate guarantees for American national security,” said Pesin. “It seems as if we were also able to meet the Chinese interest.”
CNBC said on Tuesday that the deal is expected to be closed within 30 to 45 days, and that the agreement will include current investors in parents in China in Tiktok, new investors, and new investors.
Details are in line with Reuters reports in April that the deal will take place in a new company in the United States and the majority of contestants and run by American investors.
A deal was suspended after China indicated that it will not agree to it after Trump’s ads about the customs tariff for Chinese goods.
Jeff Yas Suskahna International Group, General Atlantic, Colburg Kravis Roberts and Sakoya Capital is among the supporters in the United States.
Differences on Chinese relations
Washington said that Tiktok ownership by Bytedance makes it owned by the Chinese government.
But the company said that US officials have made a mistake in its relations with China, on the pretext that its content recommendation and user data are stored in the United States on Oracle clouds, while moderate content decisions that affect American users in the United States are taken
CNBC reported on Tuesday that Oracle will keep the cloud deal with Tiktok. Reuters said earlier this year that the White House was working on a plan to benefit from Oracle, along with a group of external investors, to control application operations.
As part of the plan, Oracle was responsible for addressing national security issues, Reuters said.
A final confirmation of the deal on Friday in a call between Trump and Chinese President Xi Jinping.
Trump said in March that his administration was in contact with four different groups in selling Tiktok. Microsoft, Amazon, Billionaire Frank McCourt and Etihad led by the founder of onlyfans were among the offers providers, according to reports.
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