JD Vance Trump Tiktok China Bytedance

Vice-president JD Vance said on Sunday that he was optimistic about the future of Tiktok in the United States

“I am very convinced that we managed to separate this company from Tiktok Global and that we actually did to control the security of people’s data,” he said on “Fox News Sunday”. “We can make sure that algorithm is not used as a propaganda tool by a foreign government.”

The popular social media platform has long faced concerns about its data collection practices and the relationship of the parent company bytedance with the Chinese government.

After months of uncertainty following the signature by former president Joe Biden of a national security law effectively prohibiting Tiktok in American application stores, President Donald Trump signed a decree approving a proposal that would allow Tiktok to continue operating in the country on Thursday.

“The way in which we have implemented this agreement from the point of view of national security is that it is American investors and American businessmen who will determine what is really going on with Tiktok,” said Vance, who declared that the agreement values ​​Tiktok’s affairs at $ 14 billion.

Under the terms of Trump’s decree, a new joint company would oversee the American activities of Tiktok, Bytedance retaining less than a 20%stake. Among the investors of the company was the giant of Oracle technology, the investment company Silver Lake and the MGX investment fund based in Abu Dhabi.

Bytedance investors, including General Atlantic, Susquehanna and Sequoia, should contribute equity to the new Tiktok US entity. According to the agreement, the federal government would not participate – or a part of gold called – in the American operations of Tiktok.

“In the end, I believe that the north of 80% of the company will belong to American investors and their partners,” said Vance. “This is not something where the Chinese or Chinese entity has a large part of the table.”

The day he signed the Decree, Trump said Chinese President Xi Jinping had the agreement, while Vance said the Chinese government had a certain resistance to the agreement.

So far, Bytedance has not recognized Trump’s order, and he has not confirmed that the transaction really takes place. Nothing also indicates that the Chinese government has made changes to the laws that would be necessary for an agreement to occur.