JD Vance Plans Deal to Prevent TikTok Ban April 5

A potential deal led by Vice President JD Vance and an investor group may prevent the imminent ban of TikTok, which is set for April 5 due to espionage concerns. The proposed agreement reportedly allows ByteDance to retain a small equity stake while ensuring that U.S. equity holders maintain control over the new entity. The deal is expected to include a grace period for finalizing terms and Oracle managing data storage. Despite the existing algorithm being transferred to the new company, there are ongoing discussions about possible changes to address legal concerns. Vance aims to reassure American users about the app's safety amid fears of Chinese government surveillance. GOP senators previously opposed to the deal are now deferring to the White House, indicating a shift in their stance as negotiations progress.