Trump administration says TikTok deal is set to be finalized Thursday

Описание: A major deal to keep TikTok operating in the United States is expected to be finalized this week. Treasury Secretary Scott Bessent says President Donald Trump and Chinese President Xi Jinping will sign off on a new joint-venture agreement that would place TikTok under majority U.S. ownership and tighten national security protections.

The deal — set for Thursday — would limit ByteDance to a 20% stake, with U.S. companies controlling 80% of TikTok and Oracle serving as the primary security provider. The agreement comes after concerns that China could access American user data or influence TikTok’s powerful algorithm.

TikTok currently has over 170 million U.S. users, and the platform has become a major driver of news, entertainment, and small business growth. The arrangement is designed to keep TikTok available in America, avoid a nationwide ban, and ensure U.S. data stays on U.S. soil.