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U.S. and China reach framework deal on TikTok ownership amid divestment deadline
ByteDance, TikTok’s parent company, is facing a September 17 deadline to divest its U.S. operations or risk a nationwide shutdown.
Despite once calling TikTok a national security threat, Trump has softened his stance in recent months. In August, the White House even launched its own TikTok account.
The United States and China have struck a tentative framework agreement over the future of TikTok, according to a CNBC report.
“It’s between two private parties, but the commercial terms have been agreed upon,” Treasury Secretary Scott Bessent confirmed on September 15 during bilateral talks in Madrid, suggesting the deal could shift the popular short-video platform into U.S.-controlled ownership. Both U.S. President Donald Trump and Chinese President Xi Jinping are expected to speak on September 19 to finalize details.
Trump hinted at the breakthrough in a Truth Social post, saying a deal had been reached “on a certain company that young people in our country very much wanted to save.”
The announcement comes against a tense backdrop of U.S.-China trade disputes, with Washington imposing tariffs and restrictions on Chinese firms.
ByteDance, TikTok’s parent company, is facing a September 17 deadline to divest its U.S. operations or risk a nationwide shutdown.
Congress had earlier barred app stores like Apple and Google from hosting TikTok in the U.S., citing its status as a “foreign adversary-controlled application.” Trump delayed the ban multiple times this year, extending deadlines for ByteDance to secure a deal.
Despite once calling TikTok a national security threat, Trump has softened his stance in recent months. In August, the White House even launched its own TikTok account.
China's Commerce Ministry has earlier accused the U.S. of "unilateral bullying and economic coercion" and warned that Washington's demands could disrupt global trade and supply chains.
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