Former President Donald Trump announced on 16/9 that a deal had been reached regarding TikTok. "We have a deal for TikTok. We have some very big companies in the United States that want to buy it," he said, without providing further details.
He added that the US and China had reached an agreement to keep TikTok operating in the US. The platform's US assets would be transferred from the Chinese company ByteDance to US owners. This move could conclude the nearly year-long dispute.
According to Reuters, an agreement concerning the social media app, which has 170 million US users, is seen as a breakthrough in the months-long negotiations between the world's two largest economies, easing a trade war that has destabilized global markets.
Any agreement would likely require congressional approval. In 2024, under former President Joe Biden, congress passed a law requiring the Chinese company to divest due to concerns that US user data could be accessed by Beijing or used for influence operations.
However, the Trump administration repeatedly delayed enforcing the app's shutdown in the US, fearing user outrage and disruption to political communication channels. Trump extended ByteDance's divestment deadline three times.
Trump believes TikTok helped him win the previous election. His personal TikTok account currently has 15 million followers. The White House also opened an official account on the platform last month.
CNBC reported on 15/9 that the deal, involving current investors in the parent company ByteDance and new investors, is expected to be finalized within 30-45 days.
Information from April suggested the deal would separate TikTok's US operations into a new company, headquartered in the US and majority-owned and operated by US investors.
On 14/9, the US and China began a new round of tariff negotiations in Spain, which, for the first time, included discussions about TikTok's ownership. The inclusion of TikTok on the agenda, announced by the US Treasury Department, provided a political basis for the Trump administration to further extend the platform's operating deadline.
Observers believe the meeting likely extended the deadline for ByteDance to divest from TikTok in the US or face a shutdown, which was due on 17/9.
Tu Anh (via Reuters)
