TikTok's fate in the US: Still many concerns from lawmakers

A senior Republican lawmaker has voiced concerns about the framework agreement with China announced by President Donald Trump on September 16 to keep TikTok operating in the US.

The move is seen as a breakthrough in months-long negotiations, potentially resolving one of the thorniest issues in the US-China trade war.

The deadline for TikTok's parent company, ByteDance, to sell or shut down the app in the US has been extended to December 16. However, Representative John Moolenaar, Chairman of the House Special Committee, has expressed concern that the deal could still allow China to influence US users because TikTok continues to rely on the algorithm of parent company ByteDance.

Sources familiar with the deal said it bears similarities to a plan discussed earlier this year that would have transferred TikTok’s US assets to US owners from its Chinese parent company ByteDance.

TikTok's US branch will likely still have access to ByteDance's algorithm, while China said it would review this type of technology export and intellectual property licensing according to the law.

Mr. Moolenaar’s concerns center on this access. The US Congress passed a law in 2024 under the administration of former President Joe Biden that required TikTok to divest over concerns that US user data could be accessed by the Chinese government. Some lawmakers say Mr. Trump violated this law by allowing TikTok to continue operating past the deadline.

Which "big guys" want to own TikTok?

With about 170 million users in the US, TikTok has become a "bargain" that attracts the attention of many parties.

TikTok’s US ownership structure will be complex, with ByteDance expected to retain a 19.9% stake, just below the 20% threshold. The remainder will be held by a consortium of existing ByteDance shareholders Susquehanna International Group (SIG), General Atlantic, KKR, and new investors Andreessen Horowitz, Oracle, and Silver Lake.

A number of other big names have also expressed interest or submitted bids, including Amazon.com and Microsoft. Microsoft, in particular, was a leading candidate in the first attempt to buy TikTok in 2020 during Trump's first term, but negotiations fell through.

Other investors include marketing platform AppLovin, AI search engine Perplexity, social network Reddit co-founder Alexis Ohanian and a group led by entrepreneur Jesse Tinsley and YouTube personality MrBeast.

This latest deal, while seen as a step forward, clearly hasn’t satisfied all parties in Washington. Concerns about national security and the influence of ByteDance’s algorithm will certainly continue to be the focus of attention in the coming time./.

(TTXVN/Vietnam+)

Source: https://www.vietnamplus.vn/so-phan-tiktok-tai-my-van-con-nhieu-lo-ngai-tu-gioi-lap-phap-post1062597.vnp