The US and China have reached a framework agreement to transfer TikTok into US-controlled ownership, marking a breakthrough in a long-running dispute over national security concerns. US trade representative Jamieson Greer confirmed the deal, while Treasury Secretary Scott Bessent said commercial terms have been agreed but declined to disclose details.
Chinese trade negotiator Li Chenggang said both sides reached a consensus on resolving TikTok-related issues through cooperation. The agreement follows US legislation in April 2024 requiring ByteDance to sell TikTok to a US-approved buyer or face a ban.
The TikTok saga began in 2020 when Trump ordered ByteDance to divest the platform. Microsoft, Walmart, and Oracle all pursued acquisitions, but none succeeded. Oracle has hosted TikTok’s US data since 2022 under a security agreement.
Final details are expected after a meeting between Trump and Chinese President Xi Jinping. The US has over 135 million TikTok users, though federal devices remain barred from using the app.
