President Donald Trump said on Tuesday that the U.S. and China have a deal that would keep TikTok operating in the United States, transferring its U.S. assets to U.S. owners from China's ByteDance, potentially resolving a saga that has lingered for nearly a year, APA reports citing Reuters.
A deal on the popular social media app, which counts 170 million U.S. users, stands as a breakthrough in months-long talks between the world's No. 1 and No. 2 economies that have sought to defuse a wide-ranging trade war that has unnerved global markets.
"We have a deal on TikTok ... We have a group of very big companies that want to buy it," Trump said, without providing further details.
He lauded the trade deal reached with China, calling it an upgrade for both countries, and said it would preserve tens of billions of dollars of value.
"The kids want it so badly, I have parents calling me up. They don't want it for themselves. They want it for their kids," Trump said.
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