Trump announces Chinese leader's agreement for TikTok deal
In a developing saga, the future of TikTok in the United States hangs in the balance as the app's parent company, Bytedance, and the Chinese government negotiate a deal.
A new US subsidiary of TikTok will be formed, with Oracle, Silver Lake, and Andreessen Horowitz expected to hold 80 percent of the subsidiary. The remaining 20 percent will be held by Chinese shareholders.
The involvement of US investors has fuelled a debate, with critics raising concerns about the potential risk of US government influence over public opinion through the Chinese-developed algorithm.
President Donald Trump has assured that the agreements would prevent China's influence over the app. He also granted an additional grace period upon taking office, which he later extended multiple times.
However, the US law requires neither the Chinese government nor Bytedance to have control over the algorithm. TikTok and Bytedance have both denied having control over the algorithm.
The Wall Street Journal reported that the US government would receive several billion dollars from investors as part of the TikTok transaction. Work on the agreement is still ongoing, according to Trump.
Meanwhile, the death of right-wing activist Charlie Kirk last week in the state of Utah has sparked a debate over press freedom and freedom of speech in the US. Kirk's views, which have been criticized as racist and sexist, have been a subject of controversy.
The Trump administration had announced plans to target commentators they believe are not expressing themselves appropriately. The temporary suspension of Jimmy Kimmel's late-night show due to his comments on the Kirk case further fueled the debate.
TikTok, with over 170 million users in the US, has stated that the Chinese-developed algorithm will still be used in its US operations. This has raised further concerns about the app's impact on public opinion and data privacy.
As the negotiations continue, the future of TikTok in the US remains uncertain. The app's headquarters in Beijing leaves its US operations in limbo, with many questioning whether the app can truly operate independently from Chinese influence.
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