The United States and China have agreed on a framework to maintain TikTok’s operation in the U.S., officials announced on Monday, September 15th. Treasury Secretary Scott Bessent confirmed the deal during talks in Madrid and stated that President Trump and Chinese President Xi Jinping will finalize it on Friday.
Bessent explained that the framework could facilitate a transition of TikTok to U.S.-controlled ownership, although the administration did not disclose the buyer. Reports suggest a group led by Oracle executive chairman Larry Ellison is likely to acquire the platform’s U.S. assets. “Without [Trump’s] leadership and the leverage he provides, we would not have been able to include the deal today,” Bessent added.
TikTok’s parent company, ByteDance, faces a September 17th deadline to divest its U.S. business or risk the platform being shut down. U.S. Trade Representative Jamieson Greer noted the deadline might require a short extension to complete the deal, but emphasized that no ongoing extensions are planned.
The talks stem from national security concerns over TikTok’s Chinese ownership. A law banning foreign-adversary apps allowed temporary extensions, and Trump issued executive orders in January, April, and June to delay enforcement amid ongoing trade negotiations.
Bessent highlighted that China had sought concessions on trade and technology policy in exchange for allowing TikTok’s divestment. He emphasized that the United States would not compromise national security for the platform. Greer explained that the framework ensures fairness for both sides while prioritizing U.S. security concerns.
Trump praised the progress of the U.S.-China trade talks on Truth Social, calling them very successful. He also said a deal was reached to preserve a popular platform for young Americans and confirmed he will discuss the agreement with President Xi on Friday.
TikTok, which boasts roughly 170 million U.S. users, did not immediately respond to requests for comment. Analysts have noted that securing a U.S.-controlled buyer could allow the platform to continue operating while addressing congressional and national security concerns that prompted its ban.
