TikTok: China’s ByteDance agrees to cede US operations after Trump threat | Technology

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China’s ByteDance has agreed to completely cede U.S. operations from TikTok in a bid to salvage a deal with the White House, after Donald Trump said on Friday he decided to ban the popular short video app, two said. people familiar with the subject. Saturday.U.S. officials have said TikTok under its Chinese parent company poses a national risk because of the personal data it processes. ByteDance’s concession will test whether Trump’s threat to ban TikTok is a negotiating tactic or whether he intends to crack down on a social media app that has up to 80 million daily active users in the United States. United.

ByteDance previously sought to retain a minority stake in the US firm of TikTok, which the White House had rejected. As part of the proposed new deal, ByteDance would quit completely and Microsoft would take over TikTok in the United States, the sources said. Some US-based ByteDance investors may have the option of taking minority stakes in the company, the sources added.

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