Trump announces Chinese leader's agreement to TikTok arrangement
In a dramatic turn of events, the popular video-sharing app TikTok faces an uncertain future in the United States. Last year, a US law was passed that mandated the app to be sold or shut down by January 19, 2025, due to concerns over its China-developed algorithm and potential influence on public opinion.
The ongoing saga took a new twist when the late-night show hosted by US comedian Jimmy Kimmel was temporarily suspended following his comments on the shooting of right-wing activist Charlie Kirk. This suspension further fueled the debate surrounding TikTok and its China-developed algorithm.
However, both TikTok and Bytedance, the company behind the app, have denied these claims regarding the influence of the algorithm. The deal regarding TikTok's future in the US is still ongoing, according to US President Donald Trump, who has assured that the agreements would prevent China influence over the app.
In a significant development, China President Xi Jinping has reportedly agreed to a deal over TikTok. The US subsidiary restructuring of TikTok involves Oracle and Walmart becoming minority shareholders. Oracle will hold a 20% stake in the newly established US company called TikTok Global, which will be majority owned by US investors to comply with government requirements.
US investors such as Oracle, along with investment firms Silver Lake and Andreessen Horowitz, are set to hold 80% of the new US subsidiary, with the remaining 20% held by China shareholders. Trump described the TikTok deal as 'good' and said that 'investors are getting ready.'
The US government is expected to receive several billion dollars from investors as part of the TikTok transaction, according to the Wall Street Journal. Despite the ongoing situation, the operation of TikTok outside the US, such as in Germany, is unlikely to be affected.
The debate over TikTok has sparked a larger discussion on press freedom and freedom of speech in the US. A dispute over how the death of right-wing activist Charlie Kirk can be discussed has triggered this debate. Many of Kirk's extremely conservative views are criticized as racist and sexist.
The China-developed algorithm will reportedly continue to be used in TikTok's US operations. Critics in the US see this as a potential risk for the US government to influence public opinion. The Trump administration had announced plans to target commentators they believe are not expressing themselves appropriately.
TikTok previously reported having over 170 million users in the US. The 31-year-old Charlie Kirk was shot last week in the state of Utah. The temporary suspension of Jimmy Kimmel's late-night show and the ongoing debate over TikTok's future in the US serve as a reminder of the complex interplay between technology, politics, and free speech in today's digital age.
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