President Donald Trump a new extension granted for Ticktok’s The deadline of the American rejection when Washington and Beijing reached a framework agreement that China called a “win-win” while Bytedance The appreciation climbed to $ 330 billion through a new return program for employees.
Trump pushes Deadline until December 16
On Tuesday, Trump signed an executive order that expanded the deadline for the American activities of Tiktok to December 16, which postponed the fourth time that he has postponed the congress mandate that is required Bytedance To dispose of the app, reported The corresponding press.
The original deadline was set up on January 19, 2025, one day before Trump’s second inauguration.
Trump confirmed on Monday that a framework agreement was reached after meetings in Madrid between Treasury Secretary Scott Betting and Chinese Deputy Prime Minister He lifeng.
“I hate to see value as that out of the window,” Trump told reporters, indicating that he wants Tiktok to overtake under American ownership. He added that further details would be completed in a Friday phone call with the Chinese president XI Jinping.
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China calls agreement a ‘win-win’
China’s people run by the State praised the provisional deal and said it was based on “mutual respect, peaceful coexistence and win-win cooperation,” Reuters reported.
The editors also noted that Beijing will assess the technological export and license agreements of Tiktok under Chinese legislation.
Li ChenggangSaid China’s international trade representative that the parties had reached a “basic framework consensus” to reduce barriers and promote cooperation.
Political and security interests remain high
The American law that required the repulsion of Tiktok was based on concern that bytedance could expose US user data to the Chinese Communist Party.
Civil servants of the China Committee repeated that every deal must include complete Doortedance and algorithm separation.
Nevertheless, Trump has shifted the tone, referring to the popularity of Tiktok with young voters. He has suggested that the app helped him to gain support in the 2024 elections, a factor that he now openly connects with his decision to continue to extend the deadline.
Bytedance bends the financial strength
Even if it is under pressure in Washington, Bytedance strengthens its financial position.
Last month it was reported that the company has launched a new share buying program for employees that it appreciates more than $ 330 billion, an increase of $ 315 billion six months earlier.
The company reported a turnover of the second quarter of approximately $ 48 billion, an increase of 25% on an annual basis, so that the lead was consolidated Meta Platforms, Inc. Meta As the world’s best social media company through sales.
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Indemnification: This content was partially produced with the help of AI tools and was assessed and published by Benzinga Editors.
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