Tag: Trade Relations

By Jim Pollard with Reuters | Asia Financial Chinese shareholders’ stake will be cut to below 20%, while Andreessen, Silver Lake and Oracle look set to be key players in the new firm running TikTok in the US China has hailed the agreement reached with US trade officials on the operations of TikTok in the United States as a “win-win” deal. The framework agreement achieved in Madrid on Monday will see the US operations of the popular short-video app switch to local owners because of a law passed last year by Congress, which deemed Chinese ownership of TikTok a national security risk and that parent company Bytedance must divest its holding or face a ban. The deal is expected to see Bytedance and Chinese shareholders’ stake reduced to below 20%, while tech giant Oracle, venture ca...