Imran rahman-jonesTechnical reporter
According to President Donald Trump, the deal between the United States and China was made between the United States and China.
Trump said when reporters left the White House to visit England, “We have a contract with Tiktok. I will talk to President XI on Friday.”
I heard that the social media platform operated by Chinese company Bytedance is at risk of selling or closing the US.
However, Trump repeatedly delayed the ban since it was first announced in January. On Tuesday, he extended the deadline until December 16.
The US president said the buyer will soon be announced.
The Wall Street Journal reported that under the negotiations between the United States and China, Tiktok’s US business will be controlled by an investor consortium, including Technical Company Oracle, Silver Lake, a private equity company, and Andreatescent, a venture capital company.
In the new US subsidiary created by the contract, US investors will have about 80%of their shares, and the US government will dominate the board of directors with one member chosen by the US government.
Meanwhile, US users go to the new app in the current test stage and have a content inventory algorithm using a licensed technology in BYTEDANCE. Tiktok’s algorithm is the biggest reason for the success of the app.
Previously, CNBC reported that the contract would include the mix of the present and new investors and will be completed within the next 30 to 45 days.
Oracle also said it will maintain an existing contract to host the Tiktok server in the United States. It was one of the main concerns of US lawmakers and was worried about data shared with China.
On Monday, the US trade delegation said that in Madrid’s wider trade negotiations, it has reached a “framework” trading with China.
China confirmed the framework agreement, but said there would be no transactions at the expense of the company’s interests.
After the talks, Wang Jingtao, deputy director of the Chinese Cyber Spatial Administration, suggested that the agreement included this agreement, “permitting algorithms and other intellectual property rights.”
He added: “The Chinese government will investigate and approve related issues related to Tiktok, such as the use of license of intellectual property such as technology exports,” he added.
At first, after the Tiktok was forbidden to be prohibited during the first term, Trump took a posture for a popular video sharing platform.
In January, the US Supreme Court supported the law passed in April 2024 and banned the app in the United States unless Chinese parent Bytedance sold American weapons.
The US Department of Justice said Tiktok has raised a “huge depth and scale national security threat” due to access to data on US users.
But bytedance says that it is resisted to sales, the US operation is completely separated and information with Chinese countries is not shared.
Tiktok became dark in January, but it lasted a day before the initial ban was delayed.
The sale deadline has been extended four times, and the latest delay on this ban will be terminated on December 16.
