 Technology |
Technology |
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US has 'framework' for TikTok deal |
Treasury Secretary Scott Bessent said Monday that the U.S. has a "framework" for a TikTok deal, after President Trump hinted that his administration had reached an agreement to keep the app available in the U.S. |
"We have a framework for a TikTok deal," Bessent said at a press conference in Madrid. "The two leaders, President Trump and Party Chair Xi [Jinping], will speak on Friday to complete the deal. But we do have a framework for a deal with TikTok." Bessent, who was in Spain for trade talks with Chinese officials, declined to discuss the "commercial terms" of the agreement between "two private parties" but emphasized that they "have been agreed upon." "We had very good discussions," he added. "We preferred to keep the discussions on TikTok. We will be holding trade negotiations in about a month again at a different location." The announcement comes as the administration's latest TikTok extension is set to expire Wednesday. Trump has repeatedly delayed enforcement of a law, passed last year, requiring TikTok's China-based parent company ByteDance to divest from the app or face a ban on U.S. networks and app stores. U.S. Trade Representative Jamieson Greer suggested the president could further extend the timeline if necessary to sign the agreement. "We believe we have an agreement," he said Monday. "It's just subject to the leaders' approval. So, if you need to extend it by some period of time just to get it signed, et cetera, that's one thing. But we're not going to be in the business of having repetitive extensions. We have a deal." Trump hinted at a positive outcome earlier in the day, suggesting a "deal was also reached on a 'certain' company that young people in our Country very much wanted to save. They will be very happy!" |
Welcome to The Hill's Technology newsletter, I'm Julia Shapero — tracking the latest moves from Capitol Hill to Silicon Valley. |
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How policy will be impacting the tech sector now and in the future: |
Anthropic CEO criticizes administration's chip policy: 'Doing exactly the wrong things' |
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Anthropic’s CEO voiced concerns Monday about the Trump administration's approach to export restrictions on advanced AI chips, advocating for stricter controls as the company makes its presence known in Washington. The AI firm's outspoken chief executive, Dario Amodei, warned that some government officials are "doing the wrong things on chip export controls," underscoring national security concerns. "What … |
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Musk buys $1B in Tesla stock as board pitches new compensation plan |
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Tesla’s stock price surged on Monday after it was disclosed that tech billionaire Elon Musk bought about $1 billion worth of shares in the automaker company Friday. Musk’s massive Tesla stock purchase — his first in more than five years — was revealed in a regulatory filing Monday, as the electric vehicle maker he co-founded in 2003 mulls a decadelong pay package that could make him a trillionaire if he meets several … |
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China accuses Nvidia of violating antimonopoly laws |
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China's market regulator on Monday accused Nvidia of violating Chinese antimonopoly laws and said it would continue investigating the leading U.S. chipmaker. The State Administration for Market Regulation issued a brief statement on Monday saying a "preliminary investigation" found Nvidia in violation of the Chinese law in connection to its $6.9 billion acquisition of Mellanox Technologies, an Israeli-American network and data … |
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Trump suggests TikTok deal reached during talks with China |
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President Trump suggested Monday that his administration has reached a deal on TikTok amid trade talks between the U.S. and China. "The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! It will be concluding shortly," he wrote on Truth Social. "A deal was also reached on a 'certain' company that young people in our Country very much wanted to save. They will be … |
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News we've flagged from the intersection of tech and other topics: |
- Alphabet enters $3 trillion market cap club as Big Tech's AI momentum builds (Reuters)
- Anthropic data shows uneven AI adoption (Axios)
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Branch out with other reads on The Hill: |
Cox criticizes 'conflict entrepreneurs' in wake of Kirk's death |
Utah Gov. Spencer Cox (R) criticized technology companies as "conflict entrepreneurs" that have turned Americans against each other, suggesting the public needs to reclaim its agency. "I can’t emphasize enough the damage that social media and the internet is doing to all of us, those dopamine hits. These companies, trillion dollar market caps, the most powerful companies in the history of the world have figured out to … |
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