"If it happens, the deal would mark the end of months of uncertainty about the fate of the popular video-sharing platform in the United States. After wide bipartisan majorities in Congress passed - and President Joe Biden signed - a law that would ban TikTok in the U.S. if it did not find a new owner in the place of China's ByteDance, the platform was set to go dark on the law's January deadline. For a several hours, it did."
"Three more executive orders followed, as Trump, without a clear legal basis, continued to extend the deadline for a TikTok deal. The second was in April, when White House officials believed they were nearing a deal to spin off TikTok into a new company with U.S. ownership that fell apart after China backed out following Trump's tariff announcement."
"Treasury Secretary Scott Bessent told CBS's "Face the Nation" Sunday that the two leaders will "consummate that transaction on Thursday in Korea.""
The United States and China are signaling a potential agreement to keep TikTok operating in the U.S., possibly finalized during a leaders' meeting in South Korea. The deal would end months of uncertainty after Congress passed and the president signed a law that would ban TikTok if ByteDance did not sell. TikTok briefly faced shutdown at the law's January deadline. Multiple executive orders extended the platform's operation while negotiations continued, including a failed April spin-off attempt after China withdrew following U.S. tariff announcements. Trump’s orders aimed to enable a U.S.-led buyer, but the transaction requires Chinese approval.
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