US and Chinese officials said yesterday they have reached a framework agreement to switch short-video app TikTok to US-controlled ownership that will be confirmed in a Friday call between US President Donald Trump and Chinese President Xi Jinping.
After a meeting with Chinese negotiators in Madrid, US Treasury Secretary Scott Bessent said a September 17 deadline that could have disrupted the popular social media app in the US encouraged Chinese negotiators to reach a potential deal.
He said that deadline could be extended by 90 days to allow the deal to be finalised, but declined to discuss specifics of the deal.
Bessent said when commercial terms of the deal are revealed, it will preserve cultural aspects of TikTok that Chinese negotiators care about. “They’re interested in Chinese characteristics of the app, which they think are soft power. We don’t care about Chinese characteristics. We care about national security,” Bessent told reporters at the conclusion of two days of talks in Madrid.
It is the second time this year that the two sides have said they were nearing a TikTok deal. The earlier announcement in March ultimately did not pan out.
Any agreement could require approval by the Congress, which passed a law in 2024 requiring divestiture due to fears that TikTok’s US user data could be accessed by the Chinese government, allowing Beijing to spy on Americans or conduct influence operations through the app.
But the Trump administration has repeatedly declined to force a shutdown, which could anger the app’s millions of users and disrupt political communications.
Trump has credited the app with helping him win re-election last year, and his personal account has 15 million followers. The White House launched an official TikTok account last month.
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