President Donald Trump and top U.S. officials were to meet at the White House on Tuesday to consider a proposal by China's ByteDance to keep majority ownership of its popular TikTok video app, people familiar with the matter said.
Trump has ordered ByteDance to divest TikTok amid U.S. concerns that user data could be passed to China's Communist Party government. He has threatened to ban TikTok in the United States as early as Sept. 20 if ByteDance does not comply.Under ByteDance's proposal, however, the Beijing-based company would keep a majority stake in TikTok's global business and create headquarters for TikTok in the United States, the sources said.
Treasury Secretary Steven Mnuchin, who chairs CFIUS, and Commerce Secretary Wilbur Ross are scheduled to attend the White House meeting, two of the sources said.
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