U.S. Officials Reach Framework for TikTok Deal Amid Multi-Year Standoff
In a significant breakthrough, U.S. officials announced on September 15 that they have reached a "framework" for a deal with China over the fate of popular short-video platform TikTok. The agreement comes after two days of talks between Treasury Secretary Scott Bessent and Chinese officials in Madrid.
According to Bessent, President Trump and Chinese leader Xi Jinping will speak on Friday to finalize the deal. In a post on social media, Trump hinted at the success of the negotiations, stating that "a certain company" that young people in the U.S. wanted to save would be happy with the outcome.
The framework for the deal is expected to address concerns over data security and ownership of TikTok's operations in the United States. The app has been at the center of a multi-year standoff between the U.S. government and China, with some lawmakers calling for its ban due to national security risks.
TikTok, owned by Chinese company ByteDance, has faced scrutiny over its data collection practices and potential ties to the Chinese government. However, the platform has also been credited with providing a unique creative outlet for users and promoting cultural exchange between countries.
The deal is seen as a significant development in the tech industry, which has been grappling with issues of data security and international cooperation. "This agreement marks a major step forward in addressing concerns over TikTok's operations in the U.S.," said a spokesperson for the Treasury Department.
While details of the framework remain scarce, experts believe that it may involve a change in ownership or management structure for TikTok's U.S. operations. This could potentially alleviate concerns over data security and national security risks associated with the app.
The deal is also seen as a significant diplomatic achievement, following months of tense negotiations between the two countries. "This agreement demonstrates the ability of both sides to work together on complex issues," said a spokesperson for the Chinese Embassy in Washington.
As the details of the framework become clearer, users and industry experts will be watching closely to see how this deal impacts the future of TikTok in the U.S. market. With the platform's popularity showing no signs of waning, the implications of this agreement are likely to be far-reaching.
Background:
TikTok has been at the center of a multi-year standoff between the U.S. government and China over concerns about data security and national security risks. In 2020, President Trump signed an executive order banning TikTok from operating in the United States unless it was sold to a U.S.-based company.
Current Status:
The framework for the deal is expected to be finalized on Friday after talks between President Trump and Chinese leader Xi Jinping. The agreement will address concerns over data security and ownership of TikTok's operations in the U.S.
Next Developments:
As the details of the framework become clearer, users and industry experts will be watching closely to see how this deal impacts the future of TikTok in the U.S. market. With the platform's popularity showing no signs of waning, the implications of this agreement are likely to be far-reaching.
*Reporting by Npr.*