The US and China have agreed on a framework to transfer TikTok to 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 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 addresses national security concerns over ByteDance, TikTok’s Chinese parent company. In 2024, legislation required ByteDance to sell TikTok to a US-approved buyer or face a ban, a deadline extended multiple times by former President Donald Trump.
The TikTok saga began in 2020 when Trump first ordered ByteDance to divest the platform. Microsoft, Walmart, and Oracle pursued acquisitions, but none succeeded. Oracle has provided cloud services for TikTok’s US operations since 2022 to address security concerns.
Final approval will follow a meeting between Trump and Chinese President Xi Jinping. TikTok has over 135 million US users, including the White House, though government devices remain barred from the app.
