Reuters reported on a new TikTok joint venture in the United States to circumvent the ban.

The Chinese owner of the TikTok short video creation and viewing service, ByteDance, has signed a deal to establish a joint venture in the United States, which will be owned by most American investors, in order to avoid a possible ban on the application in the country. This was reported by the Reuters news agency on January 23.

"This deal marks an important milestone for the short video app after years of struggle that began in August 2020, when U.S. President Donald Trump first unsuccessfully tried to ban the app for national security reasons," the company said.

It is noted that the new TikTok USDS Joint Venture LLC will allow American and international investors, including Oracle, Silver Lake and MGX from Abu Dhabi, to own 80.1% of the company, while ByteDance will retain 19.9%, ensuring control over user data and application algorithms.

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Earlier, on December 19, it was reported that TikTok representatives signed a deal to sell their American company to a joint venture controlled by US investors.

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