Earlier today, it was suggested that President Trump could give the Chinese social media platform, TikTok, another extension beyond the September 17 deadline. Now, a fresh report confirms that instead of another delay, the U.S. and China have reached a deal that could keep the app running in the country.
According to U.S. Treasury Secretary Scott Bessent, both the U.S. and China have reached a framework deal for TikTok. Upon the sidelines of a meeting between two countries in Madrid on Monday, Bessent said, "It’s between two private parties, but the commercial terms have been agreed upon."
Notably, both President Trump and President Xi Jinping will meet on Friday to finalize the terms. A few hours ago, Trump, in a post on his social media platform, Truth, hinted that a deal for TikTok was also reached. He said:
The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! It will be concluding shortly. 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.
Additionally, Bessent added that the finalized framework "could pivot the platform to U.S.-controlled ownership" (via CNBC). It should be noted that it was President Trump who, soon after taking charge of the President"s office, revoked the ban that was imposed for a day on TikTok by the Biden administration.
He then, till now, has given three deadline extensions to TikTok so that its parent, ByteDance, could sell off its U.S. asset to an American company. Based on the recent report, it appears that the gloomy days for TikTok are soon going to be over.
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