The US Treasury Secretary announced in an official statement that Washington and China have reached an agreement regarding local ownership of TikTok's operations in America. This was reported by Zamin.uz.
According to Secretary Scott Bessent, the agreement will be signed on Friday by President Donald Trump and Chinese leader Xi Jinping. However, Beijing has not yet confirmed this information.
If China does not accept the agreement, TikTok could be completely blocked in the US territory on September 17. Trump emphasized that the trade negotiations held in Madrid were productive and that a necessary agreement was reached concerning the fate of the platform, which is important for young people.
It was made mandatory for TikTok's Chinese owner to find a buyer for its operations in the US. Otherwise, the app is highly likely to be banned in the country.
For reference, the US Supreme Court approved a law passed last year in January. According to it, if the company does not hand over its operations, TikTok will be completely banned.
The US Department of Justice considers the platform's access to American users' personal data a serious threat to national security. TikTok's management denied these accusations, emphasizing that their activities in the US are independent and that no data is transferred to the Chinese government.
It is also noted that the ban could negatively affect Americans' freedom of speech and the protection of their information. After the blocking law came into force, Trump agreed in January to delay the ban for 75 days.
Subsequently, the deadline was extended three times, with the final date set for September 17. Earlier, potential buyers of TikTok were mentioned as Tesla founder Elon Musk, blogger and businessman MrBeast, and investor Frank McCourt.
Currently, all eyes are on September 17, when the future of the platform and its millions of users is expected to be determined.
