President Donald Trump announced on Tuesday that the U.S. and China have reached a deal to keep TikTok operating in the United States by transferring its U.S. assets from China’s ByteDance to U.S. owners.

The deal marks a breakthrough in prolonged talks between the two largest global economies aimed at easing trade tensions and addressing national security concerns over TikTok.

The big picture: TikTok currently has approximately 170 million users in the U.S., making it one of the country’s most popular social media platforms. • Trump revealed that “a group of very big companies” is interested in buying TikTok’s U.S. operations but did not disclose specific details about the buyers. • Final approval of the deal may require the consent of the Republican-led U.S. Congress, which passed

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