It seems like the tumultuous tug-of-war for TikTok may finally be nearing its conclusion. President Donald Trump has announced that the government has reached an agreement with China to keep the social media app running in the US.
Speaking at a White House briefing, the president said, “We have a deal on TikTok … We have a group of very big companies that want to buy it.” Of course, if you’ve been keeping up with this saga, it may sound like Trump is blowing hot air as usual. This time, though, there is some weight to this claim.
Following negotiations in Madrid earlier this week, the two nations have reached a framework agreement. As part of this agreement, ByteDance is required to transfer TikTok’s American assets to US owners. However, the specifics of the deal are still uncertain as both parties have yet to finalise the details. The agreement is expected to be confirmed in a call between Trump and Chinese President Xi Jinping on Friday.
Naturally, Trump has delayed the TikTok ban yet again, with 16 December 2025 being the new deadline. This gives the countries 90 days to work out this deal. According to Reuters, ByteDance will keep the single largest ownership stake at 19.9%. The group that will hold 80% comprises both old and new investors. It is currently uncertain which companies will be involved, although it is speculated that Oracle will be among them.
(Source: Reuters)
