One America News Network OAN Staff Blake Wolf
The Trump administration announced that the United States and China have reached a preliminary framework agreement regarding TikTok’s ownership.
The deal aims to transition TikTok from its Chinese parent company, ByteDance, to U.S.-controlled ownership, addressing national security concerns related to user data access by the Chinese government.
U.S. Treasury Secretary Scott Bessent confirmed the development following trade talks in Madrid, and the framework deal was made prior to the September 17th deadline. If the deadline had not been reached, it would have forced ByteDance to divest TikTok in the U.S. or face a potential shutdown.
President Donald Trump teased the announcement in a Monday Truth Social post, writing: “The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! It will be concluding shortly. A deal was also reached on a ‘certain’ company that young people in our Country very much wanted to save. They will be very happy! I will be speaking to President Xi on Friday. The relationship remains a very strong one!!!”
Bessent also noted on Monday that “it’s between two private parties, but the commercial terms have been agreed upon.” While specific commercial terms have not been publicly disclosed, Bessent mentioned that the deal could result in the platform seeing a shift to U.S.-based ownership.
President Trump will speak with Chinese President Xi Jinping on Friday to officially “complete” the deal, he added.
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