The ongoing saga regarding the TikTok ban progresses, with a member of ByteDance’s board indicating that a potential compromise may be on the horizon.
This statement was made by William E. Ford, an American entrepreneur and director of the parent company ByteDance.
For a recap of the situation up to this point, here are the key details:
- Current legislation mandates that the app must be sold to a US-based company.
- Until this transaction occurs, TikTok remains prohibited in the United States.
- This means the app can still be used, but American firms are not allowed to host it or provide it for download.
- Trump’s executive order does not alter this situation and may even be considered unlawful.
- Apple continues to adhere to the mandated legal guidelines.
Bloomberg has reported Ford’s assertion that a compromise deal could be feasible, especially with ongoing discussions between Trump and China’s president.
“We are hopeful about finding a solution,” Ford stated during his speech at the World Economic Forum in Davos. “There are various alternatives we can explore with President Trump and his team that do not necessitate the sale of the company and would enable it to continue functioning, potentially involving some kind of change in control, but without a complete sale” […]
“I’m optimistic about the dialogue developing between President Trump and President Xi,” he added. “This may foster a more constructive atmosphere and a greater level of engagement that could result in a favorable resolution.”
The exact nature of such a compromise remains uncertain, although the legislation demanding the sale is quite clear.
Ford is the CEO of General Atlantic, an investment firm that holds shares in ByteDance, granting him a position on the board.
Photo by Solen Feyissa on Unsplash
: We utilize auto affiliate links that generate income. More.
