TikTok Transfer Triumphs in Trump Talks
US President Donald Trump has announced that the popular app TikTok, owned by China’s ByteDance, will continue operating in the United States, with its American assets being transferred to US ownership. The move could end more than a year of uncertainty surrounding the platform, Reuters reported.
Trump said on Tuesday, “Our TikTok deal is done... a lot of big companies are interested in buying it.” He did not disclose the potential buyers. He described the agreement between the US and China as positive for both countries, adding, “It will preserve a value of more than ten billion dollars.”
With nearly 170 million American users, TikTok is among the country’s most popular apps. In 2024, Congress passed a law requiring ByteDance to sell TikTok’s US assets amid concerns that the Chinese government could use the platform to surveil or influence Americans.
The deal could take 30 to 45 days to take effect and may require approval from the Republican-controlled Congress, CNBC reported.
Trump added, “Kids really want TikTok. Many parents call me; they want it not for themselves but for their children.”
