Wildly popular social media app TikTok is said to have a draft agreement in place with the U.S. government that would allow it to continue operating in the country while retaining Chinese ownership.The deal was hashed out in recent months, according to a report in the New York Times, and resolves national security concerns that have troubled lawmakers given the platform’s ownership by Beijing-based tech giant, ByteDance.
However, the agreement may take months more to finalize, the NYT said, with a top DOJ official and the Treasury both having reservations on whether it’s tough enough on China.In 2020, then President Trump issued an unusual executive order blocking the app unless ByteDance sold TikTok’s U.S.
business to an American company. Microsoft came in early with an offer. Its bid was rejected in favor of Oracle, which signed on as a technology partner with a group of investors.
It was all pretty messy and put on hold but not forgotten. Government officials continue to view the platform as a threat able to siphon users’ data and compromise U.S.
Read more on deadline.com
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