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TikTok and Biden Administration may close a deal to avoid its sale

TikTok and Biden Administration may close a deal to avoid its sale

Both parties have drafted a preliminary agreement in a bid to resolve national security concerns posed by the ByteDance-owned platform.

. This agreement might result in preventing the sale of TikTok by its parent company ByteDance. . This agreement might result in preventing the sale of TikTok by its parent company ByteDance.

Chinese video-streaming app, TikTok, and the Biden administration have drafted a preliminary agreement in a bid to resolve national security concerns posed by the former which is currently struggling to operate in the United States, multiple sources told New York Times. This agreement might result in preventing the sale of TikTok by its parent company ByteDance.

TikTok has been caught in a controversy with the US authorities since the time of the Trump Administration. Concerns regarding data of American users and the strained geopolitical ties between America and China have put the company and its operations in the spotlight since the last two years.

The two parties are debating and trying to reach a conclusion, New York Times reported, citing sources familiar with the matter. However, the Treasury Department, which is involved in resolving the matter, is not convinced that the potential agreement will provide a sufficient solution to the national security issues. 

In another report, TikTok spokesperson refused to provide a comment on the matter to Reuters but added that the app was confident about being able to "fully satisfy all reasonable U.S. national security concerns".

ByteDance and the White House did not immediately respond to Reuters' request for comment.

TikTok is one of the most popular short-form mobile video-streaming application. China, it has offices across Los Angeles, New York, London, Paris, Berlin, Dubai, Singapore, Jakarta, Seoul, and Tokyo.

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Published on: Sep 26, 2022, 7:01 PM IST
Posted by: Bhavya Kaushal, Sep 26, 2022, 7:01 PM IST