Trump Xi TikTok Deal South Korea Meeting
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TikTok Deal Reached Between US and China – A Developing Story
Table of Contents
US President Donald Trump has announced a potential deal with China regarding the future of TikTok’s US operations, following a phone call with Chinese Premier Xi Jinping. The agreement reportedly involves selling TikTok’s US business too a group of US investors, possibly including Oracle.
Trump described the call with Xi as “productive” and expressed gratitude for the Chinese Premier’s approval of the deal. Though, China’s state news agency Xinhua offered a more cautious statement, indicating Beijing “welcomes negotiations” but emphasizing adherence to Chinese laws and regulations.
The situation surrounding TikTok has been complex.Previously, TikTok (owned by Chinese firm Bytedance) faced a potential ban in the US unless it sold its US operations. Trump repeatedly delayed implementing the ban, extending the deadline multiple times.
Key Players & Companies
- Donald Trump: US President, driving the negotiations.
- xi Jinping: Chinese Premier, involved in approving the potential deal.
- tiktok/ByteDance: the Chinese company owning the popular video-sharing app.
- Oracle: A US tech company, potentially a key investor in TikTok’s US operations, co-founded by Larry Ellison.
Timeline of Events
| Date | event |
|---|---|
| January 2020 | Initial threats of a ban on TikTok in the US. |
| Throughout 2020-2023 | Repeated extensions of the deadline for TikTok to sell its US operations or face a ban. |
| October 2023 | Trump announces a potential deal with Xi jinping. |
| End of October 2023 | APEC Summit in South Korea – planned meeting between Trump and Xi. |
| December 2023 | Current deadline for a final deal. |
A important point of contention remains the ownership of TikTok’s algorithm, which powers the app’s content advice system. The algorithm is crucial to TikTok’s success, and its control is a key factor in ensuring US data security.