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Trump has TikTok deal “on his desk”

President Trump "has a deal on his desk," whereby Microsoft would lead an acquisition of 100% of the U.S. operations of TikTok, according to a source familiar with the negotiations.

Why it matters: Trump Friday night said he plans to ban TikTok, as India has done, over concerns that the app could be sharing U.S. user data with the Chinese government.

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