US and China reach “framework” deal to save TikTok from ban
The United States and China announced they have reached a “framework” agreement to transfer TikTok to US-controlled ownership, potentially averting a ban of the popular social media app just days before a September 17 deadline. Treasury Secretary Scott Bessent confirmed the preliminary deal during trade talks in Madrid, saying President Donald Trump and Chinese President Xi Jinping will finalize the agreement in a Friday phone call.
The framework would shift ownership of TikTok’s US operations away from Chinese parent company ByteDance to American investors, addressing national security concerns that have dominated the app’s future for years.
