Trump says TikTok deal reached with China

Photo Credit: Solen Feyissa / CC by 2.0

The Trump administration says it has reached a deal with China on the ownership of TikTok’s US operations. Trump meets with President Xi on Friday.

TikTok’s U.S. operations might soon be out of limbo, according to statements from President Trump and U.S. Treasury Secretary Scott Bessent. Bessent confirmed that a “framework” deal has been reached with China on the ownership of TikTok’s American operations.

Trump said on his Truth Social that talks with Chinese President Xi Jinping have “gone very well,” while Bessent added that the two world leaders would meet again on Friday to “complete” the deal. Top Chinese trade negotiator Li Chenggang also confirmed a framework agreement was in place, but stressed that no deal would be made at the expense of Chinese companies’ interests.

According to Bessent, the threat to shut down TikTok in the U.S. had persuaded Chinese negotiators to pull back their demands for reduced tariffs as part of any deal to relinquish ownership of TikTok’s U.S. business. He added that the agreed-upon terms would protect U.S. security interests.

Jamieson Greer, U.S. trade representative and part of the U.S. delegation in Madrid, said the deal in question was still subject to approval from leadership. However, he added that his team was not “in the business of having repetitive extensions” on the looming ban.

TikTok’s uncertain future began in January when the U.S. Supreme Court upheld a law passed in April last year, banning the short-form video sharing platform unless its parent company, China-based ByteDance, sold its U.S. assets to an American entity.

The Justice Department has been vocal in its concerns that TikTok’s access to data on American users poses a “national security threat of immense depth and scale.” Meanwhile, ByteDance has insisted that its U.S. operations are fully independent, and that no data is shared with the Chinese government. However, experts have challenged that assertion.

TikTok shut down for just a day in January after the law came into effect, but the newly elected Trump intervened, issuing what would become the first of three 75-day extensions. The latest delay is due to end on September 17—but Trump has been adamant that he will continue to issue extensions until a deal is reached.