The US Treasury Secretary issued an official statement stating that Washington has reached an agreement with China regarding the local ownership of TikTok's operations in America. According to Minister Scott Bessent, the agreement will be signed by President Donald Trump and Chinese leader Xi Jinping on Friday. However, Beijing has not yet confirmed this information. If China does not agree, the platform may be completely blocked in the US on September 17.
Trump emphasized that the Chinese-American trade talks held in Madrid were productive. In his opinion, the necessary agreement has been reached on the fate of the platform, which is important for young people. At the same time, the Chinese owner of TikTok is required to find a buyer for his operations in the USA. Otherwise, the app is likely to be banned in the country.
For information, the US Supreme Court approved the law passed last year in January of this year. According to him, if the company does not transfer its operations in America, TikTok may be completely banned. The US Department of Justice considers the platform's possession of American users' personal data as a "serious threat to national security."
TikTok's management continues to deny these accusations. The company stated that its operations in the US are conducted entirely independently, and no information is transmitted to the Chinese government. It was also noted that the ban could violate the freedom of speech and data protection of more than 170 million American users.
Recall that after the blocking law came into force, Trump personally intervened in the matter in January and agreed to postpone the ban for 75 days. Subsequently, the deadline was extended three times and September 17 was set as the final date.
It should be noted that previously, various celebrities were mentioned as TikTok's potential buyers. Among them are Tesla founder Elon Musk, famous blogger and businessman MrBeast, and billionaire investor Frank McCurt.
Now our eyes are fixed on September 17th. On this day, the fate of the platform and the future of millions of users on it can also be determined.
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