President Donald Trump introduced on Fact Social on Friday that he had a “very productive” name with China’s chief, Xi Jinping, and that “progress” has been made “on the approval of the TikTok Deal.”
A White Home official informed CNBC that the decision started at 8 a.m. ET. Though the matter doesn’t seem to have been finalized, Trump wrote that he can “admire the TikTok approval” and that the 2 leaders will meet once more in November on the APEC Summit in South Korea.
“I simply accomplished a really productive name with President Xi of China. We made progress on many crucial points, together with Commerce, Fentanyl, the necessity to deliver the Battle between Russia and Ukraine to an finish, and the approval of the TikTok Deal,” Trump wrote. “The decision was an excellent one. We shall be talking once more by cellphone, admire the TikTok approval, and each sit up for assembly at APEC!”
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Earlier this week, Treasury Secretary Scott Bessent introduced that the “framework” for a TikTok deal had been reached with China. Then, Trump prolonged the deadline for a TikTok deal for one more 90 days, till December 16, with an Government Order. It’s the fourth extension issued since Congress handed a legislation final yr requiring TikTok’s father or mother firm, Beijing-based ByteDance, to promote the favored app or face a ban within the U.S.
CNBC’s David Faber reported earlier this week that TikTok’s U.S. homeowners will consist of recent and current buyers. Oracle, which has been TikTok’s U.S. cloud supplier since 2022, will preserve its settlement with the corporate, sources informed Faber. CBS stories that the non-public fairness agency, Silver Lake, can also be concerned. Experiences famous ByteDance would preserve an possession stake.
Bids to purchase the app have been submitted by a slew of notable enterprise leaders, together with the crew of Kevin O’Leary, billionaire former Dodgers proprietor Frank McCourt, and Reddit co-founder Alexis Ohanian in “The Folks’s Bid.” AI startup Perplexity, Amazon, and Applovin all submitted separate proposals as nicely.
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President Donald Trump introduced on Fact Social on Friday that he had a “very productive” name with China’s chief, Xi Jinping, and that “progress” has been made “on the approval of the TikTok Deal.”
A White Home official informed CNBC that the decision started at 8 a.m. ET. Though the matter doesn’t seem to have been finalized, Trump wrote that he can “admire the TikTok approval” and that the 2 leaders will meet once more in November on the APEC Summit in South Korea.
“I simply accomplished a really productive name with President Xi of China. We made progress on many crucial points, together with Commerce, Fentanyl, the necessity to deliver the Battle between Russia and Ukraine to an finish, and the approval of the TikTok Deal,” Trump wrote. “The decision was an excellent one. We shall be talking once more by cellphone, admire the TikTok approval, and each sit up for assembly at APEC!”
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