By Anirudha Yerunkar

Copyright india

US President Donald Trump said on Sunday that media executive Lachlan Murdoch and business leaders Larry Ellison and Michael Dell are among the American investors backing a proposed deal to shift TikTok’s US operations away from China’s ByteDance.
Trump noted that Washington and Beijing have made progress on an agreement that would transfer TikTok’s American assets to US ownership. If finalized the deal would give Trump’s allies in corporate America a stake in the platform which has 170 million American users and plays a major role in shaping political and cultural discourse.
US TikTok Deal With China
An emerging TikTok deal with China will ensure that US companies control the algorithm that powers the apps video feed and Americans will hold a majority of seats on a board overseeing US operations the White House said Saturday.
A central question to the tug of war between Washington and Beijing has been whether the popular social video platform would keep its algorithm after the potential divestment of Chinese parent company ByteDance.
Congress passed legislation calling for a TikTok ban to go into effect in January but President Donald Trump has repeatedly signed orders that have allowed TikTok to keep operating in the United States as his administration tries to reach agreement for ByteDance to sell its US operations.
How Will Americans Control TikTok?
White House press secretary Karoline Leavitt said tech giant Oracle would be responsible for the apps data and security and that Americans will control six of the seven seats for a planned board.
“We are 100 per cent confident that a deal is done now that deal just needs to be signed and the presidents team is working with their Chinese counterparts to do just that” Leavitt told Fox News “Saturday in America” A day earlier Trump and Chinas Xi Jinping discussed a TikTok deal in a lengthy phone.
Leavitt said “the algorithm will also be controlled by America as well” offering more detail about how the deal at least in the eyes of the White House is taking shape.
Trump said after his call with Xi that American investors were lined up and that the Chinese leader has been “a gentleman” about the matter. The Republican president was vague on the crucial question of whether China would control the algorithm.
(With Inputs From PTI)