TikTok avoids US ban by finalizing historic Trump-backed American majority ownership deal

TikTok announced Thursday that it has finalized a historic deal to launch a majority American-owned joint venture, a move aimed at averting a potential U.S. ban on the popular social media app. The deal marks a major milestone for TikTok, coming after years of legal and political battles that began in 2020, when President Donald Trump raised national security concerns about the Chinese-owned platform.The Joint Venture LLC, built on the foundation of the TikTok U.S. Data Security (USDS) organization, will sa ...