"The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! It will be concluding shortly," Trump wrote on Monday morning. "A deal was also reached on a "certain" company that young people in our Country very much wanted to save. They will be very happy! I will be speaking to President Xi on Friday. The relationship remains a very strong one!!! President DJT."
"Congress approved a law last year requiring TikTok to separate from its parent company, Beijing-based ByteDance, or face a permanent ban in the U.S. After multiple extensions, the deadline is now Wednesday. Shortly after Trump's post, Treasury Secretary Scott Bessent said on Monday that the U.S. and China have agreed to the "framework" of a deal for Beijing-based ByteDance to divest TikTok to a U.S. buyer."
The U.S. and China agreed on a framework for Beijing-based ByteDance to divest TikTok to a U.S. buyer, with negotiators meeting in Madrid. Congress approved a law requiring TikTok to separate from ByteDance or face a permanent U.S. ban, and multiple deadline extensions led to a final deadline this Wednesday. President Donald Trump signaled the deal's imminence on Truth Social and said he will speak with President Xi on Friday to finalize terms. Treasury Secretary Scott Bessent confirmed that the agreement aims to respect U.S. national security concerns while being fair to China. Potential U.S. buyers remain unclear, with Oracle reported as a frontrunner.
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