NBC News, citing two senior White House officials, reported that President Donald Trump is expected to sign an agreement on September 25th to facilitate the sale of TikTok from a China-based company to a group of American investors.
Members of the Trump administration have been signaling for days that an agreement is being finalized between Chinese and American officials.
A senior White House official confirmed to NBC News on September 24 that, once the deal is finalized, TikTok's US operations will be run by a new joint venture company. ByteDance, TikTok's current parent company based in China, will hold less than 20% of the new company.
This structure would comply with bipartisan legislation passed in 2024 that seeks to ban TikTok if the platform is not sold to US-based owners this year. The app was suspended in the US in January, just one day before Trump's inauguration for his second term.
The app resumed operation in the US after Trump pledged not to enforce sanctions against TikTok as stipulated in the law and said he would seek a deal with China to sell the platform to the US.
Trump has repeatedly extended the deadline for avoiding a TikTok ban this year. On September 24, a senior White House official said he planned to extend the temporary suspension for another 120 days to allow time for an agreement to be reached.
For years, tech experts and U.S. officials have warned that TikTok, with over 170 million users in the U.S., is a national security risk and that ByteDance could provide the Chinese government with access to user data and the app's algorithms.
During his first term, Trump signed an executive order in 2020 to ban TikTok, but then-President Joe Biden reversed that decision the following year. Biden subsequently signed the TikTok Act into law.
A senior White House official confirmed on September 24th that, as part of the agreement, data from US users will be stored in the US and monitored by the cloud computing and software company Oracle. They also added that the platform's algorithms will be retrained and continuously monitored to ensure that US content is not manipulated from outside.
Last weekend, White House Press Secretary Karoline Leavitt told Fox News that the deal was nearly complete. She added that the agreement would create a board to oversee TikTok with six seats reserved for American investors, but did not specify the identities of the American investors.
Later, President Trump told Fox News in a separate interview that Larry Ellison, co-founder of Oracle, would play a role in the deal.
He also said that Dell Technologies CEO Michael Dell and the Murdoch family, owners of a media empire including News Corp and Fox Corp, would also be involved. The president added that the other businesspeople involved in the deal were “really great people, very prominent figures.”
(VNA/Vietnam+)
Source: https://www.vietnamplus.vn/tong-thong-my-donald-trump-chuan-bi-ky-thoa-thuan-tiktok-post1063898.vnp
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