There are again big moves on the global tech stage: serious negotiations continue between the US and China regarding the future of the TikTok social network. US President Donald Trump made an important statement on this topic in the Fox News studio — he said that “a group of very wealthy people” has been chosen as the buyer of TikTok. Most importantly, the deal will require the approval of Chinese leader Xi Jinping, Reuters reported.
As Trump emphasized, political disputes and security concerns around TikTok are still relevant. It was clarified that the list of buyers, terms of the deal, and other important aspects are not yet disclosed. Trump postponed the announcement of these details “for about two weeks.” Therefore, the public will have to be patient for now.
It is known that the US Congress and state institutions consider TikTok a threat to national security. Specifically, according to the law passed by Congress and signed by Joe Biden, if TikTok’s owner ByteDance does not separate the American segment of the platform from foreign — that is, Chinese — control, the network could be banned entirely in the US. On the other hand, if TikTok sells at least 50 percent of its shares to American companies, it will have the chance to continue operations.
At the moment, the Trump administration is working on a “deal to save TikTok.” The effective date of the existing law was postponed by 75 days in January by Trump’s special order. In April, he extended the deadline by another 75 days.
Trump’s statement shows that behind political conflicts lie major economic interests and huge stakes in the tech market. The TikTok acquisition is being watched not only by America but also by the global public. Because this deal may take the US–China rivalry to a new level.
The final decision will be announced in the coming weeks. There is no doubt that such a big money game and agreement between tech giants will strongly affect the global market and determine new directions for TikTok’s future. Read 'Zamin' on Telegram!
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