ByteDance Emerges From TikTok Saga With ‘Major Win’ on US Access

After almost seven years, three US presidencies and a near-total ban, ByteDance Ltd. has secured a definitive victory in its standoff with Washington.

TikTok announced a deal this week to create a US joint venture with Oracle Corp. and other investors, avoiding a potential ban over national security concerns and ensuring it can keep operating in the country. US President Donald Trump immediately trumpeted a victory for his administration, thanking his Chinese counterpart Xi Jinping for blessing the agreement.