The US and China have agreed on a framework to transfer TikTok into US-controlled ownership, marking a major step in a long-running dispute over the app’s Chinese parent company, ByteDance. US trade representative Jamieson Greer confirmed the agreement, while Treasury Secretary Scott Bessent said commercial terms had been agreed but declined to disclose details.
Chinese negotiator Li Chenggang said both sides reached a basic framework to address TikTok-related issues through cooperation. The deal follows US security concerns, with 2024 legislation giving ByteDance nine months to sell the platform to a US-approved buyer or face a ban.
The TikTok saga dates back to 2020, when Donald Trump first demanded ByteDance divest the app. Microsoft, Walmart, and Oracle previously explored acquisitions, but none materialized. 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 on Friday. TikTok has over 135 million active US users, though federal devices remain barred from using the platform.
