Kathmandu, Sept 20: U.S. President Donald Trump on Friday said that Chinese President Xi Jinping has approved the TikTok deal. This will allow the video-sharing platform to continue its operations in the United States.
Trump told reporters in the Oval Office that he had a good conversation with President Xi and that Xi had given his approval for the TikTok deal.
He said the deal is awaiting completion, with only the formal signing remaining. Investors are reportedly preparing as the TikTok agreement is expected to be finalized soon.
Trump described it as a very good deal for the United States and added that there will be strict U.S. oversight over the app.
Earlier, the U.S. had passed a law requiring the Chinese company ByteDance to sell its American TikTok operations, otherwise the app would have faced a ban starting January 19, 2025. However, the Trump administration has not yet enforced this.
Following the discussion between Xi and Trump, ByteDance issued a statement thanking both leaders. TikTok confirmed it will continue serving users in the U.S. and will take necessary steps in line with Chinese law.
According to media reports, under this deal, U.S. investors will take an 80 percent stake in TikTok, while the remaining 20 percent will remain with Chinese companies, including ByteDance.
People’s News Monitoring Service
Comments:
Leave a Reply