A deal to bring TikTok's U.S. platform under American ownership is done and should be signed soon, with domestic control of the app's crown-jewel algorithm, White House press secretary Karoline Leavitt said Saturday.
Why it matters: While the White House said Friday a deal was done, Chinese officials gave mixed messages, and the app's fate was left uncertain.
- Congress passed a ban last year with bipartisan support, but President Trump has repeatedly ordered his administration not to enforce the law while trying to negotiate a deal.
What they're saying: "We are 100% confident that a deal is done, now that deal just needs to be signed and the president's team is working with their Chinese counterparts to do just that," Leavitt told Fox News, adding that the deal should be signed in "the coming days."
- The U.S. app will be "majority owned by Americans in the United States," Leavitt said, and under the control of a seven-member board that includes six Americans.
- "The algorithm will also be controlled by America," she added.
Between the lines: The exact composition of the ownership group is still unclear, though Leavitt did confirm Oracle would be responsible for the app's data and security.
- Reports have suggested U.S. users would have to move to a newly built app, running a new version of the existing algorithm built by TikTok's engineers.
- That algorithm is considered the key to TikTok's success, and control over it was seen as the most contentious part of the negotiation.
What to watch: When a deal is struck, who is actually involved, and what that will mean for the U.S. user experience remain to be seen.
