US creeps closer to controlling TikTok after Trump-Xi meeting

The United States is edging closer to potential control over TikTok's algorithm following a recent meeting between President Donald Trump and Chinese President Xi Jinping. While neither leader confirmed any agreement regarding the proposed arrangement, which aims to establish a U.S. version of TikTok utilizing the Chinese-owned algorithm, the Chinese Commerce Ministry did issue a statement suggesting that they are willing to address TikTok-related concerns with the U.S. Throughout the meeting, President Trump, who has consistently expressed a desire to 'save' TikTok, remained notably reticent. However, U.S. Treasury Secretary Scott Bessent informed Fox News prior to the encounter that they had reached a near-finalization of the TikTok agreement pending Chinese approval. Bessent emphasized that the resolution of this matter could be expected in the 'coming weeks and months,' according to reports from Reuters. As discussions continue, it remains uncertain whether China will demand modifications to Trump's proposal. The terms that would allow ByteDance to maintain a 20 percent ownership stake and retain control of the algorithm are perceived as advantageous for China. Tech analyst Dan Ives from Wedbush Securities remarked, 'Buying TikTok without the algorithm would be like buying a Ferrari without the engine,' highlighting the critical nature of the algorithm in any potential deal. With no concrete agreement emerging from the recent talks, it appears that China may not be entirely satisfied with the current terms or may be hesitant to give up control of an app that has unexpectedly surged in popularity across America. Louise Loo, head of Asia economics at Oxford Economics, noted that the details surrounding Beijing's interests in the TikTok negotiations are still unclear, particularly in relation to President Trump's intentions to divest the app's U.S. operations. As the TikTok saga unfolds, ByteDance has remained tight-lipped throughout the Trump administration's negotiations, which are aimed at alleviating U.S. national security concerns surrounding potential Chinese influence over the platform. If an agreement is reached without significant alterations, TikTok could undergo transformative changes for its American user base.