The saga of the sale of TikTok's US business that began more than five years ago will finally be finalised this week. So, what should you know about it?
The end of a 5-year saga
For your information, the US Treasury Secretary Scott Bessent said after two days of talks with Chinese representatives in Kuala Lumpur that the terms of the sale, which have been delayed several times, will be finalised by President Donald Trump and Xi Jinping this Thursday in South Korea during the APEC meeting.
In addition, the sale price and who will take over TikTok's US business will also be finally known this week. Trump forced ByteDance to sell TikTok when he first took office in 2020. TikTok was accused of posing a security risk by sharing American user data with China. Bytedance denied this, and the data was then stored in an Oracle-owned browser.
Besides that, President Biden later did not pursue the executive order forcing the sale, but later pursued it at the end of his administration. TikTok and CapCut were removed from major US app stores for several days for failing to comply with the order before Trump subsequently extended the sale deadline several times shortly after he was inaugurated as president for a second time.
Did this news catch your attention? Stay tuned for more news like this at TechNave!
COMMENTS