Chinese video-streaming app, TikTok, and the Biden administration have drafted a preliminary agreement in a bid to address national security concerns posed by the former, which is currently struggling to operate in the United States, according to multiple sources. This agreement could lead to the sale of TikTok by its parent company ByteDance.
TikTok has been involved in a dispute with the US authorities since the Trump administration. Concerns regarding data from American users and the strained geopolitical ties between America and China have put the company and its operations under the spotlight since the last two years.
Sources familiar with the matter told the New York Times that the two parties are trying to reach a conclusion. The Treasury Department, which is involved in resolving the matter, is not convinced that the potential agreement will provide a sufficient solution to national security issues.
In another report, the TikTok spokesman refused to give a comment on the matter to Reuters but said that the app was confident about being able to fully satisfy all reasonable U.S. national security concerns ByteDance and the White House didn't respond immediately to Reuters' request for comment.
TikTok is one of the most popular short-form mobile video-streaming application.