U.S. and China have “framework” of TikTok deal, Bessent says, as Trump teases agreement

The ongoing dispute over the ownership of TikTok between the United States and China seems to be coming to a resolution, as negotiators from both countries have agreed to the outlines of a deal. Treasury Secretary Scott Bessent announced on Monday that a framework for a TikTok deal has been established, with President Trump scheduled to speak to Chinese President Xi Jinping later in the week to finalize the agreement.

The agreement, according to Bessent, is between two private parties, and the commercial terms have already been agreed upon. The discussions in Spain focused on the future of the popular app, which has been at the center of a geopolitical tug-of-war between the two superpowers.

President Trump hinted at the agreement in a post on Truth Social, stating that a deal had been reached on a “certain” company that young people in the U.S. wanted to save. He emphasized that the relationship between the two countries remains strong and that he will be speaking with President Xi Jinping to seal the deal.

When asked about whether China would have a stake in the company, President Trump mentioned that this detail has not been decided yet. However, a spokesperson for Vice President JD Vance highlighted that the deal would allow hundreds of millions of Americans to continue using the app, underscoring the leadership and foresight shown by President Trump and Vice President Vance in securing the agreement.

In a briefing following the trade talks, a Chinese official reiterated China’s commitment to safeguarding national interests and the rights of Chinese enterprises. The official emphasized that China opposes the politicization and weaponization of technology and economic-trade matters, and will not compromise on principles, company interests, or international fairness and justice.

The TikTok saga began last year when Congress passed a bill requiring ByteDance, TikTok’s China-based parent company, to divest from the app or face a ban in the U.S. President Trump issued orders delaying the enforcement of the law, citing national security concerns. The latest extension pushed the deadline for compliance to September 17, allowing negotiations for a deal that would separate TikTok from ByteDance.

While a potential deal was in sight in the spring, it was derailed by Mr. Trump’s tariffs on Chinese imports. ByteDance refuted claims of an agreement, stating that key issues remained unresolved, and any deal would require approval from the Chinese government. The law mandated TikTok to divest by January 19, but enforcement has been delayed as negotiations continue.

Despite concerns over national security and data privacy, President Trump has shown support for TikTok due to its popularity among young people. However, some Republicans have questioned the legality of delaying the enforcement of the TikTok ban and called for the law to be upheld.

As negotiations progress and a potential deal looms, the fate of TikTok hangs in the balance, with the hopes of millions of American users pinned on the outcome of talks between the U.S. and China. The resolution of this contentious issue will not only impact the future of TikTok but also shape the ongoing economic and technological rivalry between the two global powers.