Trump says US has a buyer for TikTok
President Donald Trump said that an agreement between the US and China has been understood to have an agreement to enable Tiktok to operate in the US, and three sources familiar with the understanding of the issue are similar to someone discussed earlier this year.
The agreement requires Tiktok’s transfer of US assets from China to local owners and potentially solving an epic that has been going on for about a year.
An agreement for the popular social media application, which considers 170 million US users, will try to neutralize a comprehensive trade war that annoys global markets, while a breakthrough will represent a breakthrough in months between the two largest economies.
“We have an agreement on Tiktok… We have a group of large companies that want to buy without further details in the White House briefing.
Li Chenggang, China’s International Trade Representative, said that they have reached a “basic framework consider” in order to solve journalists’ problems with the US and China as jointly, to reduce investment barriers and to encourage relevant economic and trade cooperation.
The announcement comes the day before the deadline for selling or closing the short video application.
Later in the day, the White House extended this last date until December 16th.
The White House refused to give more details about the agreement with China.
The Wall Street Journal, which was determined by the US Government, said that a US board will be present.
The foundations of the new agreement, similar to April, said Bayta’s greatest ownership share will keep the law as 19.9 percent under the 20 percent threshold.
While the wide terms are expected to remain the same, the resources said they did not know exactly what the last agreement would look, given the potential of last -minute changes.
US Treasury Secretary Scott Bessent told CNBC on Tuesday that there are only a few details to be ironed since March at the core of the commercial conditions of the agreement.
“This agreement will not be done without appropriate assurances for US national security,” Bessens said.
“It seems that we could meet the interest of China.”
In a statement on Tuesday, CNBC said that the agreement is expected to be closed within the next 30 to 45 days and that the agreement would include Tiktok’s Chinese -based parental slope and new investors.
An agreement on Tiktok, who was in the spring, was waiting for China’s did not follow Trump’s tariff announcements about Chinese goods.
The United States, Tiktok’s ownership with Bayta, said the Chinese government is looking at.
However, the company claims that US officials misunderstood their ties with China, and that the content suggestion engine and user data are stored on cloud servers operated by Oracle, while content control decisions affecting US users are made in the country.
On Monday, a framework agreement was reached by authorities from both countries.
In a call between Trump and Chinese President Xi Jinping, a final approval of the agreement is expected on Friday.
With AP
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