TikTok Triumph: U.S.-China Deal Secures App's Future

The U.S. and China have reached a deal allowing TikTok to continue operating in the United States by transferring its U.S. assets from ByteDance to U.S. owners. This breakthrough resolves a long-standing issue amid trade tensions, with approval pending from Congress following privacy concerns about Chinese government access.

The United States and China have brokered an agreement to ensure TikTok's continued presence in the U.S. market, President Donald Trump announced on Tuesday. The arrangement involves transferring the short-video app's U.S. assets from China's ByteDance to American ownership, potentially resolving nearly a year of contentious negotiations.

The deal marks significant progress in ongoing U.S.-China trade discussions that have impacted global economic stability. While details remain scarce, Trump mentioned a consortium of prominent companies interested in acquiring TikTok. Any finalized agreement will require congressional approval due to existing legislation demanding divestment over national security concerns.

Despite the Trump administration's hesitance to enforce a shutdown, citing potential backlash from TikTok's vast user base and its own political communication benefits, the framework agreement represents a diplomatic breakthrough. The finalized deal, involving current and new investors, is anticipated within 30 to 45 days, contingent on further discussions between leaders from both nations.

(With inputs from agencies.)