"the framework is for a switch to a U.S.-controlled ownership."
"very close"
"very aggressive asks,"
"VERY WELL, a deal was also reached on a 'certain' company that young people in our Country very much"
The United States and China reached a framework agreement to divest TikTok from its Chinese parent and move to U.S.-controlled ownership. Treasury Secretary Scott Bessent said President Trump will confirm the arrangement with Xi Jinping on Friday, two days after the current sell-or-ban deadline. The preliminary deal follows months of rocky negotiations, earlier bans, and multiple deadline extensions under the Protecting Americans from Foreign Adversary Controlled Applications Act. Uncertainty remains about whether the announcement qualifies as a divestiture under the law. Reported bidders include Oracle, Susquehanna International Group, and Andreessen Horowitz, with ByteDance possibly retaining a minority stake. TikTok is developing an algorithm trained only on US user data.
Read at The Verge
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