TikTok Trade Triumph: U.S. and China Reach Landmark Agreement

The U.S. and China have reached a deal on TikTok, allowing the app's American assets to be transferred to U.S. owners. This resolution, announced by President Donald Trump, follows lengthy negotiations amidst trade tensions and aims to safeguard U.S. national security while maintaining TikTok's operations.

In a pivotal development, President Donald Trump announced that the U.S. and China have formulated a deal involving TikTok, resolving a prolonged saga surrounding the popular app. This arrangement will see TikTok's American assets transferred to U.S. owners, ensuring continued operations in the country.

With 170 million U.S. users, TikTok has been at the center of complex negotiations between the world's two largest economies. This agreement, perceived as a breakthrough in strained trade relations, could stabilize disrupted global markets. However, Congress may still need to approve any agreement due to national security concerns.

Talks were initially halted due to tensions over tariffs on Chinese goods. However, subsequent negotiations have resulted in a framework to secure both U.S. national security interests and Chinese concerns. Officials anticipate final confirmation of the agreement following talks between President Trump and Chinese President Xi Jinping on Friday.

(With inputs from agencies.)