TikTok signs Trump-backed deal to avoid US ban

TikTok has reached a deal with Oracle, Silver Lake, and MGX to form a joint venture that will allow it to continue operating in the US. The deal comes five years after former President Donald Trump threatened to ban the social media platform over privacy and national security concerns. Under the agreement, ByteDance, TikTok's Chinese owner, will retain control of the platform's core US operations, including data protection, algorithm security, and content moderation. The joint venture aims to address the US government's concerns about TikTok's Chinese ownership and the potential risks it poses to national security. The deal represents a compromise between the US government and TikTok, as it allows the app to remain active in the American market while addressing the administration's concerns. The agreement is seen as a way to de-escalate the tensions between the US and China over the future of TikTok's operations in the country.