The Albanese government has been urged to take TikTok out of the hands of Chinese hands and follow the approach taken by US President Donald Trump.

President Trump recently announced an agreement to transfer TikTok’s American assets to US owners and away from the Chinese-owned ByteDance.

The deal follows months-long talks amid concerns over potential user data collection and influence operations by the government of the People's Republic of China.

The opposition’s shadow finance minister James Paterson has since urged the Australian Labor government to follow suit.

Mr Paterson told Sky News if the US was able to create a “safer version” of TikTok, then Australia should liaise with the Trump administration to become part of that solution.

“It would be an unfortunate thing if there wa

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