The US and China have agreed on a framework to transfer TikTok into US-controlled ownership, marking a breakthrough in the long-running dispute over the app’s national security risks. 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 said both sides reached a basic 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 within nine months or face a ban, a deadline extended multiple times by former President Donald Trump.
The TikTok saga dates back to 2020, when Trump first ordered ByteDance to divest the platform. Microsoft, Walmart, and Oracle all pursued acquisitions, but none succeeded. Oracle has served as TikTok’s US cloud provider since 2022 to address security concerns.
Final details will be finalized after a meeting between Trump and Chinese President Xi Jinping on Friday. TikTok has more than 135 million US users, including an official White House account, though government devices remain barred from using the app.
