Anna Hartz
TikTok’s Future in the US Secured Under New Ownership Plan
People in the United States use TikTok every day. The app has become one of the most popular platforms in the country.
At the same time, its future has been uncertain for years because of concerns over its Chinese parent company, ByteDance. Now, after long disputes and political fights, there is finally movement toward a deal.
American-Controlled Ownership
On Monday, Jamieson Greer, a US trade representative, confirmed that Washington and Beijing have reached a framework agreement for TikTok to transfer into American-controlled ownership, according to the Guardian.
He explained that the framework sets the terms for how the transfer will happen, but many details remain private.
Talks in Madrid
US Treasury Secretary Scott Bessent also spoke after talks with Chinese officials in Madrid. He said that the commercial terms of the deal had been agreed.
He refused to give specifics, saying it was a matter between the companies involved.
Previous Attempts
This step could end years of uncertainty. In April 2024, President Joe Biden signed a law forcing ByteDance to sell TikTok within nine months or face a total ban in the United States.
Former president Donald Trump had already tried to push for a sale back in 2020.
Microsoft had expressed interest at that time, but negotiations fell apart. Later, Oracle and Walmart came close to buying TikTok’s US branch, but that deal was also shelved after reviews from the Biden administration.
Final Details to Be Worked Out
Oracle has continued to play a role. Since 2022 it has been TikTok’s US cloud provider, part of an effort to address national security concerns.
Bessent said final details will be worked out during a meeting between Trump and Chinese President Xi Jinping scheduled for Friday.
Greer confirmed that the deal is now waiting for approval from both leaders. He added that there will be no more extensions.
A New Chapter for TikTok
The United States has over 135 million active TikTok users. Even the White House joined the app in August, launching its own account.
Still, federal law continues to block the app from being installed on government devices.
The framework agreement marks a new chapter in TikTok’s long-running ownership battle. Whether it holds will depend on the talks at the highest level later this week.
This article is made and published by Anna Hartz, which may have used AI in the preparation
