US President Donald Trump Announces Deal on TikTok's US Operations After Phone Call with Chinese Counterpart Xi Jinping
In a significant development, US President Donald Trump announced on Friday that he and his Chinese counterpart Xi Jinping had approved a deal on the future of TikTok's US operations during a phone call. According to Trump, the deal would see TikTok's US business sold to a group of US investors, but there was no confirmation from Beijing.
The phone call between Trump and Xi took place on Friday, with both leaders reportedly discussing the fate of TikTok in the US. Trump wrote on Truth Social that the call was "productive" and he "appreciated" Xi's approval of the deal. However, China's official state news agency Xinhua left the outcome of their discussion less clear, with Xi quoted as saying that Beijing "welcomes negotiations over TikTok".
TikTok, which is run by Chinese company ByteDance, has been at the center of a heated debate in the US over concerns about data security and censorship. The Trump administration had threatened to ban the app unless it was sold to an American company.
According to sources close to the deal, the agreement would see TikTok's US business valued at around $20 billion. The deal is expected to be finalized in the coming weeks, with Oracle Corporation emerging as a potential buyer of TikTok's US assets.
The development comes after months of negotiations between ByteDance and the Trump administration over the fate of TikTok in the US. In August, Trump signed an executive order that would have forced ByteDance to sell off its stake in TikTok within 90 days or face a ban on the app.
While the deal has been welcomed by some as a positive development for both parties, others have expressed concerns about the implications of the agreement. "This deal raises more questions than it answers," said one expert, who wished to remain anonymous. "What exactly is being sold? And what are the terms of the deal?"
The current status of the deal remains unclear, with both sides expected to provide further details in the coming days. In a statement, TikTok said that it was "committed to working with the US government to address any concerns" and that it would continue to operate in the US pending the outcome of the deal.
As the situation continues to unfold, one thing is clear: the fate of TikTok in the US has been decided, at least for now. But what does this mean for the future of social media in the country? Only time will tell.
Sources:
Trump and Xi discuss future of TikTok in US (BBC World)
Trump and Xi discuss future of TikTok in US (BBC Technology)
This story was compiled from reports by BBC World and BBC Technology.
