The US and China have agreed on a framework to transfer TikTok into US-controlled ownership, marking a breakthrough in the long-running dispute over the app’s national security risks. US trade representative Jamieson Greer confirmed the deal, while treasury secretary Scott Bessent said commercial terms had been agreed but were not disclosed.
Chinese negotiator Li Chenggang said both sides reached a basic framework consensus to resolve TikTok-related issues through cooperation. The move follows US legislation in April 2024 requiring ByteDance to sell TikTok to an approved buyer or face a ban, a deadline previously extended by Donald Trump.
The saga began in 2020 when Trump first demanded ByteDance divest TikTok. Microsoft, Walmart, and Oracle pursued acquisitions, but none succeeded. Oracle has hosted TikTok’s US data since 2022 to address security concerns.
Final details will be finalized after a meeting between Trump and Chinese President Xi Jinping on Friday. The US has over 135 million active TikTok users, though government devices remain barred from the app.
