Summary
President Trump has extended the deadline for banning the TikTok app in the U.S. until December 16. There are ongoing talks for a possible agreement that would involve launching a new app in the U.S. under American control, while still using technology from TikTok's Chinese parent company, ByteDance.
Key Facts
- The ban on TikTok was initially set to take effect soon but is now postponed until December 16.
- U.S. officials are reportedly working on a framework deal with China about the app.
- The potential deal could involve a new app under the control of U.S. entities.
- TikTok's recommendation algorithm, a valuable asset, could be licensed for the new app.
- The new app would be 80% owned by U.S. businesses.
- A board member for the new app would be appointed by the U.S. government.
