The US and China have reached a framework agreement to transfer TikTok into US-controlled ownership, marking a major step in the long-running dispute over the app’s security. US trade representative Jamieson Greer confirmed the deal, while Treasury Secretary Scott Bessent said commercial terms had been agreed but declined to provide details.
Chinese negotiator Li Chenggang stated that both sides had reached a basic consensus on resolving TikTok-related issues through cooperation. The move addresses US national security concerns over ByteDance, TikTok’s Chinese parent company, following legislation in April 2024 requiring a sale to a US-approved buyer or a ban.
The TikTok saga began in 2020 when Donald Trump ordered ByteDance to divest the platform. Microsoft, Walmart, and Oracle explored acquisitions, but all fell through. Oracle has hosted TikTok’s US data since 2022 under a security agreement.
Final details will be finalized after a meeting between Trump and Chinese President Xi Jinping on Friday. TikTok currently has over 135 million active users in the US, though government devices remain banned from using the app.
