9/26, 11:34 AM (Source: TeleTrader)
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TikTok, US closer to deal, but obstacles remain - report

TikTok and the US government have reached a preliminary deal to resolve national security issues raised by the Chinese-owned app. However, they still face obstacles over the terms, The New York Times said Monday, citing four people with knowledge of the discussions.

According to the report, the two parties have settled the terms of a deal in which TikTok would change its data security and governance without requiring ByteDance, its owner, to sell it.

The Justice and Treasury Departments are both skeptical, raising concerns that the terms are not tough enough on China, the sources said, while adding that this could lead to a modification of the terms and conditions, which could extend the final resolution for months. TikTok has been in a legal battle for more than two years in the United States over its ties to China.

Baha Breaking News (BBN) / JG