US-China Near TikTok US Control Deal with American Board, Oracle Oversight

The United States and China have reached a preliminary agreement that will place TikTok's U.S. operations under American control, with six of seven board seats occupied by Americans and U.S. company Oracle overseeing data privacy. President Donald Trump confirmed progress after a phone call with Chinese President Xi Jinping, signaling China's approval for the deal, which aims to keep TikTok operational in the U.S. despite earlier legislative efforts to ban the app due to national security concerns. China, however, has reiterated that TikTok's future must comply with Chinese laws and regulations, emphasizing a balanced commercial negotiation. Key unresolved issues include the exact ownership structure, the extent of Chinese control over TikTok's algorithm, and reciprocal trade concessions between the two countries. The deal is seen as pivotal in broader U.S.-China relations, potentially unlocking progress in other trade areas while maintaining TikTok's access to its 170 million U.S. users.