China Signals Willingness to Allow TikTok to Remain in U.S., ByteDance to Decide on Deal

Jan 21, 2025, 07:47 AM

China has signaled a willingness to allow TikTok to remain operational in the U.S., marking a shift from its previous stance of opposing any forced sale of the app. The Chinese Foreign Ministry stated that companies like ByteDance, TikTok's parent company, can make their own decisions regarding mergers and acquisitions based on market principles, although they must comply with Chinese laws. This development comes as the U.S. has been pressuring ByteDance to divest TikTok's U.S. operations or face a potential ban. Former U.S. Treasury Secretary Steven Mnuchin proposed transferring all of TikTok's technology to sever ties with ByteDance, a suggestion that aligns with efforts to ensure TikTok complies with U.S. laws and security concerns. Additionally, ByteDance board member and General Atlantic CEO Bill Ford indicated that TikTok is prepared to engage with the Trump administration to find a solution that meets U.S. security requirements.