U.S. and China Reach Deal on TikTok According to the Trump Administration

What Happened?

The U.S. and China have reached a framework for a TikTok deal in Madrid yesterday that President Donald Trump said will be finalized when he meets with China’s President Xi Jinping this Friday. Though the buyer was not announced by either U.S. or Chinese officials, the TikTok ban, which would have taken effect tomorrow, will now likely be delayed for a fourth time until the details of the new deal are ironed out.

CNN has reported that the purchase of TikTok will likely be led by Oracle co-founder Larry Ellison, who is also a friend of U.S. President Donald Trump.

Why it Matters

Congress passed a law requiring TikTok to either divest from its current owner Bytedance or be banned in the United States. Since then, a search has been underway to find a potential American buyer as required by Congressional legislation. An estimated one hundred and seventy million Americans use TikTok each day, many of them under the age of thirty.

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TikTok is a video sharing platform that allows short video clips to be shared and accessed by users worldwide. The platform is popular in the United States, but Congress passed legislation banning the app unless it divested from its Chinese owners due to national security concerns. Specifically, Congress was concerned that the parent company of TikTok, Bytedance, was collecting data on users without their knowledge or consent. 

CNN’s reporting that Larry Ellison, the co-found of Oracle, will be part of the new deal fits with President Trump’s earlier calls for Mr. Ellison to takeover TikTok so it could continue to be used in the U.S. Had the ban taken effect the TikTok app would still have been available to users in the U.S., but it would have stopped receiving updates which meant new content would have been inaccessible.

Discussions over the future of TikTok between U.S. and Chinese officials in Madrid have been part of larger trade talks between the two countries. The Madrid talks were intended to offer the U.S. and China a forum to work out a new trade arrangement and possibly stop escalating tariffs that they had been imposing on each other. Though no new deal has yet been reached, both Chinese and American officials have expressed optimism that a new accord will be reached soon.

It is likely the specifics of the TikTok deal will be announced in the next few days or as part of the continuing negotiations in Madrid.

How it Affects You

For the one hundred and seventy million Americans who use the TikTok app, the news means they will likely continue to have access to new content on the platform. A change in ownership to an American buyer will satisfy the conditions of federal law and allow TikTok to operate in the U.S. indefinitely.  

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