Agreement Reached on TikTok Ownership Deal Between US and China

Tue Sep 23 2025 07:38:14 GMT+0300 (Eastern European Summer Time)

The US and China have reportedly agreed on a 'framework' for the ownership of TikTok's American operations, amid mounting pressure on the app's Chinese parent company, ByteDance.

In a significant development regarding TikTok's future in the United States, US Treasury Secretary Scott Bessent announced that a 'framework' for the ownership deal has been reached with China. This agreement, which emerged from trade negotiations in Madrid, aims to address national security concerns surrounding the app, which has been under scrutiny for its data practices. A looming deadline compels ByteDance to find a buyer for TikTok's American division or face potential ban. The ongoing discussions reflect the complex relationship between the two nations amid trade tensions.

The US Treasury Secretary has confirmed that Washington has reached a 'framework' deal with China regarding the ownership of TikTok's American operations. Scott Bessent stated that this agreement was established during trade discussions in Madrid, paving the way for US ownership.

President Trump noted that negotiations were favorable and mentioned a deal focused on a company that young people in the US aim to 'save'. The urgency builds as TikTok's parent, ByteDance, faces a deadline to either sell its US operations or encounter a ban in the country.

In January, the US Supreme Court upheld a law passed in April 2024 that necessitates the sale of the platform or else it would be prohibited from operating in the US. The Department of Justice has raised alarms over TikTok’s access to American user data, labeling it a 'national-security threat of immense depth and scale'.

Despite assurances from ByteDance that its US operations are independent, concerns linger over data security and potential government access. The company argues that banning the app infringes on free speech rights for its extensive user base in the US, estimated at 170 million.

TikTok experienced a temporary shutdown in January due to the law’s implementation but the ban has since been postponed. The deadline for the required sale has been extended multiple times, with the current moratorium set to expire on September 17.

Potential buyers mentioned include prominent figures such as Elon Musk, MrBeast, and billionaire investor Frank McCourt, highlighting the intense interest in acquiring a platform that has captured the attention of millions.

Bessent's announcement regarding the 'framework' deal came during the ongoing second day of discussions aimed at mitigating the trade war between the US and China, reflecting the intricate economic ties shaping these two global powers.