The TikTok deal was almost finalized with America, but china suddenly backed out, knowing where things went wrong.
A deal was about to be struck between America and china regarding the TikTok app. America wanted TikTok to be run by a new company, which was formed in America and in which most of the shares were American people.
A deal was about to be struck between America and china regarding the TikTok app. America wanted TikTok to be run by a new company, which was formed in America and in which most of the shares were American people. TikTok's owner Chinese company ByteDance would have a very small share in it. This made America feel that TikTok was safe and its data would not go into the hands of China.
According to an ap report, initially, US President donald trump had decided to approve this deal. He thought it would be fine. But then trump suddenly talked about imposing new taxes (tariffs) on things coming from China. This made china very angry. It felt that America was not doing right with it. After this, china said that it would not take this deal forward. Those who gave the information said that Bytedance people called the US government. They said that china would not agree to this deal until the matters of tax and trade with America were clear. china wanted these issues to be resolved first.
On Friday, it could not be decided whether the agreement would be made or not. According to reports, China's intention was not clear. Bytedance was afraid that if it told everyone about the deal, the Chinese government might get angry with it. Therefore, it thought it better to remain silent. Finally, trump said that the ban that was going to be imposed on TikTok has now been postponed for 75 days. That means now both the countries have got more time to talk about this agreement. This shows that it will take time to resolve the matter of TikTok. Talks will continue from both sides so that a solution can be found.
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