"The U.S. has reached a "framework" deal with China for social media platform TikTok, CNBC reported, citing Treasury Secretary Scott Bessent. "It's between two private parties, but the commercial terms have been agreed upon," CNBC quoted Bessent as saying on the sidelines of a meeting between the two countries in Madrid on Monday. The news comes barely an hour after U.S. President Donald Trump hinted on his social media platform Truth Social that a deal for the short-video app had been reached."
""A deal was also reached on a "certain" company that young people in our Country very much wanted to save," Trump said in the post, adding that he will speak to China's President Xi Jinping on Friday. Trump's post comes days before the fourth TikTok ban deadline on September 17, as delegations from both countries met in Madrid today to discuss economic policy. In June, the President indicated that he had found a group of buyers for TikTok."
The United States and China reached a framework deal on TikTok, with commercial terms agreed between two private parties. A presidential post on Truth Social indicated a deal, referenced a 'certain' company young people wanted to save, and announced a planned call with China's President Xi Jinping. Delegations met in Madrid to discuss economic policy ahead of a September 17 deadline tied to a potential TikTok ban. U.S. officials signaled readiness to ban the app if China did not withdraw demands on tariff reductions and loosening technology limits. A federal law that took effect January 19 resulted in a U.S. ban, while executive orders have been used to allow continued app access.
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