President Trump is set to meet with top White House officials on Wednesday to discuss proposals aimed at securing the future of Tiktok in the United States, according to two sources familiar with the plan.
Trump will be considering suggesting a new ownership structure for the popular video app, which is owned by the Chinese internet giant ByteDance. Lawmakers and other US officials have raised concerns about the app’s ties to China, citing national security issues. A federal law passed last year requires Tiktok to change its ownership or face a ban in the US. The most recent deadline for this ban is Saturday.
The meeting will be attended by Vice President JD Vance, who was appointed by Trump in early February to find a solution to save popular apps, along with two other individuals who requested anonymity. They mentioned that the new ownership structure could involve private equity firm Blackstone and tech company Oracle.
This meeting is just the latest development in Tiktok’s ongoing national saga, as the app has gained immense popularity in the US despite facing intense scrutiny in Washington. Trump has expressed his desire to save the app and previously extended the deadline for a potential transaction in January. He has hinted that he may do so again if a suitable plan is not reached by the beginning of this month.
Tiktok has not responded immediately to a request for comment.
It remains to be seen whether the potential deal being discussed will adhere to the law. The law stipulates that less than 20% of Tiktok or its parent company can be owned by individuals or entities from countries considered “foreign enemies,” including China.
Furthermore, the law prohibits new entities from collaborating with ByteDance to operate video recommendation technologies or establish data sharing agreements.
Last week, Trump suggested that he could potentially ease tariffs on China in exchange for support for the deal.
Tiktok has stated that it is not up for sale, as the Chinese government is blocking any potential deal.
Source: www.nytimes.com
