U.S., China Reach Framework for TikTok Deal
In a breakthrough in the multi-year standoff over the ban against the Chinese-owned app, U.S. officials announced on September 15 that they have reached a "framework" for a deal with China regarding the fate of TikTok.
According to Treasury Secretary Scott Bessent, who led the talks with Chinese officials in Madrid, the framework is an apparent breakthrough in negotiations between the two countries. Bessent stated that President Trump and Chinese leader Xi Jinping would "speak on Friday to complete the deal."
The deal was announced after two days of talks between U.S. and Chinese officials, which were described by China's state news agency Xinhua as "candid and in-depth." While details of the framework are scarce, it is clear that the agreement marks a significant step towards resolving the long-standing tensions over TikTok.
TikTok has been at the center of a heated debate over national security concerns, with some lawmakers arguing that the app's Chinese ownership poses a threat to U.S. data and cybersecurity. The Trump administration had threatened to ban the app unless its owner, ByteDance, sold off its stake in the company.
The framework is expected to address these concerns by establishing new safeguards for user data and ensuring that TikTok operates independently of its Chinese parent company. However, the exact terms of the deal remain unclear, and it is uncertain whether the agreement will satisfy lawmakers who have been pushing for a ban on the app.
TikTok has become an increasingly popular platform among young users in the U.S., with over 100 million downloads in the country alone. The app's popularity has made it a prized asset for both ByteDance and its investors, who are eager to see the company continue to grow and expand globally.
The deal is also seen as a significant step towards improving relations between the two countries, which have been strained in recent years over issues such as trade and security. Trump posted on social media that the relationship remains "a very strong one," and that he would be speaking with Xi Jinping on Friday to complete the deal.
While the framework marks a significant breakthrough in negotiations, it is unclear whether the agreement will ultimately lead to a ban or sale of TikTok's U.S. operations. Lawmakers are expected to scrutinize the terms of the deal closely, and it remains to be seen whether the agreement will satisfy their concerns over national security.
As the talks between Trump and Xi Jinping continue on Friday, one thing is clear: the fate of TikTok in the U.S. hangs in the balance. The outcome of these negotiations will have significant implications for both the app's users and its investors, who are eagerly awaiting a resolution to this long-standing saga.
Background
TikTok has been at the center of a heated debate over national security concerns since 2019, when lawmakers began raising questions about the app's Chinese ownership. The Trump administration had threatened to ban the app unless its owner, ByteDance, sold off its stake in the company.
In August 2020, the Committee on Foreign Investment in the United States (CFIUS) launched an investigation into TikTok's acquisition of Musical.ly, a social media app popular among teenagers. The investigation was sparked by concerns over national security and data protection.
Implications
The deal is expected to have significant implications for both TikTok's users and its investors. If the agreement leads to a ban or sale of the app's U.S. operations, it could lead to significant job losses and economic disruption in the country.
On the other hand, if the deal allows TikTok to continue operating in the U.S., it could pave the way for further expansion and growth in the country. The outcome of these negotiations will have significant implications for both the tech industry and national security policymakers.
Next Developments
The talks between Trump and Xi Jinping are expected to continue on Friday, with the two leaders set to discuss the terms of the deal. Lawmakers are expected to scrutinize the agreement closely, and it remains to be seen whether the framework will ultimately lead to a ban or sale of TikTok's U.S. operations.
As the negotiations continue, one thing is clear: the fate of TikTok in the U.S. hangs in the balance. The outcome of these talks will have significant implications for both the app's users and its investors, who are eagerly awaiting a resolution to this long-standing saga.
*Reporting by Npr.*
