Trump Admin Says ‘Framework’ Reached for U.S. Owners to Take Control of TikTok

The Trump administration has announced a "framework" for U.S. investors to take control of the popular social media app TikTok. The deal aims to address national security concerns related to the app's Chinese ownership. According to the announcement, the agreement would give U.S. companies and investors a majority stake in TikTok, reducing Chinese influence. The specifics of the deal are still being finalized, but it is expected to involve Oracle and Walmart taking significant ownership stakes. The move comes after months of tension between the U.S. government and ByteDance, TikTok's Chinese parent company. The Trump administration had previously threatened to ban the app in the U.S. over data privacy and national security concerns. The proposed deal is seen as a compromise that allows TikTok to continue operating in the U.S. while addressing the administration's concerns about Chinese control. However, the agreement still requires final approval from both U.S. and Chinese authorities.