US and China Close in on Deal for TikTok Sale Amidst National Security Concerns
In a significant development, the White House announced yesterday that a deal to put popular video-sharing platform TikTok under US ownership could be finalized as early as Thursday during a meeting between President Joe Biden and Chinese President Xi Jinping in South Korea.
According to Treasury Secretary Scott Bessent, the two leaders will "consummate that transaction" on Thursday, marking the end of months of uncertainty about the fate of TikTok in the United States. The platform has been at the center of a contentious debate over national security concerns, with many lawmakers and officials expressing fears that China could use it to manipulate users.
The deal would mark a major shift for TikTok, which was set to go dark on January's deadline if it did not find a new owner in place of Chinese ByteDance. However, under President Donald Trump's executive orders, the platform has continued to operate while his administration tries to reach an agreement for the sale.
The deal is seen as a significant victory for US-China relations, but concerns remain about whether it will adequately address national security concerns. Bonnie Glaser, managing director of the German Marshall Fund's Indo-Pacific program, stated that "China is happy to let Trump declare that they have finally kept a deal," but questioned whether the agreement would truly protect American data.
The deal also raises questions about consistency with US law, as Congress passed a bipartisan bill banning TikTok in the US if it did not find a new owner. About 43% of US adults under the age of 30 use TikTok regularly, and Americans are more closely divided on what to do about the platform than they were two years ago.
TikTok's algorithm has been at the center of the security debate over the platform, with concerns centered around its potential for manipulation by Chinese authorities. While no evidence has been presented by US officials proving that China has attempted to manipulate the algorithm, American officials have warned about its vulnerabilities.
The deal marks a significant moment in the ongoing US-China trade war and will be watched closely by lawmakers, officials, and the public alike.
In a significant development, the White House announced yesterday that a deal to put popular video-sharing platform TikTok under US ownership could be finalized as early as Thursday during a meeting between President Joe Biden and Chinese President Xi Jinping in South Korea.
According to Treasury Secretary Scott Bessent, the two leaders will "consummate that transaction" on Thursday, marking the end of months of uncertainty about the fate of TikTok in the United States. The platform has been at the center of a contentious debate over national security concerns, with many lawmakers and officials expressing fears that China could use it to manipulate users.
The deal would mark a major shift for TikTok, which was set to go dark on January's deadline if it did not find a new owner in place of Chinese ByteDance. However, under President Donald Trump's executive orders, the platform has continued to operate while his administration tries to reach an agreement for the sale.
The deal is seen as a significant victory for US-China relations, but concerns remain about whether it will adequately address national security concerns. Bonnie Glaser, managing director of the German Marshall Fund's Indo-Pacific program, stated that "China is happy to let Trump declare that they have finally kept a deal," but questioned whether the agreement would truly protect American data.
The deal also raises questions about consistency with US law, as Congress passed a bipartisan bill banning TikTok in the US if it did not find a new owner. About 43% of US adults under the age of 30 use TikTok regularly, and Americans are more closely divided on what to do about the platform than they were two years ago.
TikTok's algorithm has been at the center of the security debate over the platform, with concerns centered around its potential for manipulation by Chinese authorities. While no evidence has been presented by US officials proving that China has attempted to manipulate the algorithm, American officials have warned about its vulnerabilities.
The deal marks a significant moment in the ongoing US-China trade war and will be watched closely by lawmakers, officials, and the public alike.