Vice President JD Vance will visit “Fox News Sunday” on January 11th, 2025.
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Vice President JD Vance on Sunday said he was optimistic about the future of Tiktok in the US
“I’m sure we’ve separated this company from Tiktok Global and have actually got control over people’s data security,” he said in “Fox News Sunday.” “We can assure that the algorithm is not used as a propaganda tool by foreign governments.”
Popular social media platforms have long faced concerns about their data collection practices and the parent company’s relationship with the Chinese government.
After months of uncertainty following former President Joe Biden’s signature of the National Security Act, which effectively banned Tiktok from US app stores, President Donald Trump on Thursday approved a proposal that would allow Tiktok to continue operating within the country.
“The way we set up this deal from a national security standpoint is that it is American investors and American businessmen who will determine what is actually happening in Tiktok,” said Vance, who valued the deal with Tiktok’s business at $14 billion.
Under the terms of Trump’s executive order, the new joint venture company will oversee Tiktok’s US operations, and the ordinance will maintain a stake of less than 20%. Among the companies’ investors are high-tech giant Oracle, private equity firm Silver Lake, and MGX investment fund based in Abu Dhabi.
Ordinance investors, including Atlantic General, Susquehanna and Sequoia, are expected to donate fairness to new Tiktok US companies. According to the transaction, the federal government will not take away stock interests or so-called golden share in Tiktok’s US business.
“At the end, we believe that 80% of the company’s north is owned by American investors and their partners,” Vance said. “This is not something that Chinese or Chinese organizations have large table bets.”
On the day he signed the executive order, Trump said Chinese President Xi Jinping had made the deal, but Vance said the Chinese government had some resistance to the contract.
So far, bytedance has not approved Trump’s executive orders and has not confirmed that the transaction is actually taking place. There was also no indication that the Chinese government had made any changes to the laws needed to cause the transaction to occur.
