The US and China have agreed on a framework to transfer TikTok to US-controlled ownership, resolving a long-standing dispute over the app amid Washington’s security concerns. US trade representative Jamieson Greer confirmed the deal, while treasury secretary Scott Bessent said commercial terms have been settled but declined to disclose specifics.
Chinese negotiator Li Chenggang said both sides had reached a consensus on resolving TikTok-related issues through cooperation. The agreement follows US legislation signed in April 2024 requiring ByteDance, TikTok’s Chinese parent company, to sell the platform to a US-approved buyer or face a ban.
The TikTok saga dates back to 2020 when former President Donald Trump ordered ByteDance to divest TikTok. Microsoft, Walmart, and Oracle all pursued potential acquisitions, but none materialized. Oracle has hosted TikTok’s US data since 2022 under a security-focused deal.
Final details are expected after a meeting between Trump and Chinese President Xi Jinping on Friday. The US has over 135 million active TikTok users, though federal devices remain barred from using the app.
