China and USA Reach Historic Agreement on TikTok: A Breakthrough in Tech Diplomacy
In a significant development within the ongoing diplomatic negotiations between the United States of America and the People’s Republic of China, a major breakthrough has been achieved regarding the future of the popular social media platform TikTok.
U.S.
Secretary of the Treasury, Scott Bessent, officially announced that China has consented to a transfer of ownership rights for TikTok’s American assets.
This marks a crucial step towards resolving the long-standing dispute over technology security concerns.
According to Bessent, a new company will manage TikTok within the United States, predominantly owned by American investors, with ByteDance’s ownership share reduced to less than 20%, complying with national security laws.
The deal is expected to be finalized in the upcoming weeks or months, signaling a potential resolution to the conflict that has persisted for years.
Diplomatic meetings played a pivotal role in this achievement, notably during talks between U.S.
President Donald Trump and Chinese leader Xi Jinping held in Kuala Lumpur.
Furthermore, China’s Ministry of Commerce stated that Beijing will appropriately address issues related to TikTok in coordination with the United States.
Prior delays, including the initial deadline of January 19 for ByteDance to sell TikTok, were extended following Trump’s signing of an executive order granting an extra 75 days and multiple extensions thereafter.
Throughout this period, Trump’s administration cited tensions over tariffs and concerns about national security to justify delays and changes in the negotiating process.
Meanwhile, some U.S.
senators, like Democrat Mark Warner, expressed concerns that the proposed asset sale could violate existing laws.
Overall, this development marks a critical turning point in the global digital landscape, with implications that could influence international relations and cybersecurity policies across the world.