"We have a deal on TikTok ... We have a group of very big companies that want to buy it, Trump said on Tuesday, without providing further details. The deal, which was negotiated in Madrid between US treasury secretary Scott Bessent and Chinese vice premier He Lifeng, reportedly see the social media platform transfer its US assets to new US owners from China's ByteDance."
"One of the major questions is the fate of TikTok's powerful algorithm that helped the app become one of the world's most popular sources of online entertainment. At a press conference in Madrid, the deputy head of China's cyber security regulator said the framework of the deal included licensing the algorithm and other intellectual property rights. Wang Jingtao said ByteDance would entrust the operation of TikTok's US user data and content security."
"At arguments in the Supreme Court in January, a lawyer for TikTok ByteDance told the justices how difficult it would be to sell the platform to a US company, because Chinese law restricts the sale of the proprietary algorithm that has made the social media platform wildly successful. American officials have previously warned the algorithm that fuels what users see on the app is vulnerable to manipulation by Chinese authorities."
Donald Trump claimed a deal with China would keep TikTok operating in the US. Negotiations in Madrid between US treasury secretary Scott Bessent and Chinese vice premier He Lifeng reportedly would transfer TikTok's US assets from ByteDance to new US owners. Chinese regulators said the framework includes licensing the algorithm and other intellectual property and that ByteDance would entrust operation of US user data and content security. Commentators infer the Chinese algorithm may be retained. Legal arguments noted Chinese law restricts sale of the proprietary algorithm. US officials warned the algorithm could be vulnerable to manipulation.
Read at www.theguardian.com
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