"The Trump administration had been signaling that it may have finally reached a deal with Beijing to keep TikTok running in the U.S.Treasury Secretary Scott Bessent had said on CBS's "Face the Nation" on Sunday that the two leaders will "consummate that transaction on Thursday in Korea."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 to replace China's ByteDance."
"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 when China backed out after Trump announced sharply higher tariffs on Chinese products. Deadlines in June and September passed, with Trump saying he would allow TikTok to continue operating in the United States in a way that meets national security concerns."
President Donald Trump's meeting with China's leader Xi Jinping produced multiple decisions to reduce trade tensions but yielded no agreement on TikTok ownership. China's Commerce Ministry said China will work with the U.S. to properly resolve issues related to TikTok without providing details. The Trump administration had signaled a potential deal to keep TikTok running in the U.S., with Treasury Secretary Scott Bessent saying the leaders would "consummate that transaction." Congress passed a law that would ban TikTok absent a sale replacing ByteDance. Multiple executive orders and extended deadlines followed as negotiations and a proposed U.S.-led takeover faltered amid tariff disputes.
Read at Fast Company
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