TikTok's Future: U.S.-China Agreement Outlined
A new agreement between Washington and Beijing outlines TikTok's future U.S. operations, proposing six out of seven board seats for Americans and data storage in the U.S. This decision aims to prevent TikTok's shutdown while keeping ByteDance's influence limited to under 20% in a joint venture.
An agreement between Washington and Beijing charts TikTok's operations in the U.S., granting six out of seven board seats to Americans, a top White House official confirmed.
The deal also requires American user data to be stored in U.S.-based cloud services managed by Oracle. President Donald Trump seeks a final deal to preempt the shutdown ordered by Congress, potentially occurring by January 2025 if ByteDance's U.S. assets aren't sold.
While Trump and China's President Xi Jinping discuss the matter, U.S. officials stress current arrangements, including algorithm control by the U.S., safeguarding American users from manipulation. ByteDance will retain less than 20% of the controlling joint venture stock.
(With inputs from agencies.)
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- TikTok
- U.S.
- China
- ByteDance
- Trump
- Xi Jinping
- Oracle
- algorithm
- joint venture
- data storage
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