The search for an agreement with China for TikTok to continue operating in the United States appears to have come to an end, according to US Treasury Secretary Scott Bessent.
The official said earlier this week that “an agreement was reached with China regarding TikTok so that its ownership remains in US hands,” without providing further details of the transaction.
Bessent said on Monday: “The framework of the agreement is for (TikTok) to transition to US-controlled ownership, but that will have to be confirmed by the leaders on Friday. We set the framework, they will have to confirm the agreement,” referring to a call between Presidents Donald Trump and Xi Jinping on the issue.
As you may recall, President Donald Trump had set a September 17 deadline for TikTok’s Chinese parent company (ByteDance) to complete the sale of the social media subsidiary in the US.
In any case, a fifth round of talks between the parties is still pending, “expectedly within a month at a location yet to be determined.”
M.Pino
Source: investing
(Reference image source: Solen Feyissa on Unsplash)
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