January 23, 2026 10:18 AM
TikTok seals deal for new US joint venture to avoid American ban
TikTok's Chinese owner, ByteDance, on Thursday said it has finalized a deal to establish a majority American-owned joint venture that will secure U.S. data, to avoid a U.S. ban on the short video app used by over 200 million Americans. The deal is a milestone for the social media firm after years of battles that began in August 2020 when President Donald Trump tried to ban the app over national security concerns. Trump later opted not to enforce a law passed in April 2024 requiring ByteDance t...