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 the app’s security. US trade representative Jamieson Greer confirmed the deal, while Treasury Secretary Scott Bessent said commercial terms have been agreed but declined to provide details.
Chinese trade negotiator Li Chenggang said both sides reached a basic consensus on resolving TikTok-related issues through cooperation. The move addresses US national security concerns over TikTok’s Chinese parent company, ByteDance, following legislation in April 2024 requiring a sale or ban of the platform.
The ownership saga dates back to 2020, when former President Donald Trump ordered ByteDance to divest TikTok. Microsoft, Walmart, and Oracle previously pursued acquisitions, but none succeeded. Oracle has hosted TikTok’s US data since 2022 under a security-focused agreement.
Final details are expected after a meeting between Trump and Chinese President Xi Jinping on Friday. The US currently has over 135 million active TikTok users, though government devices remain barred from using the app.
