The United States and China have reached a framework agreement to keep TikTok operating in the U.S., Treasury Secretary Scott Bessent said Monday.
"We have a framework for a TikTok deal. The two leaders, @POTUS
and Party Chair Xi, will speak on Friday to complete the deal," Bessent said on Monday.
President Donald Trump also alluded to the agreement on Truth Social.
"A deal was also reached on a “certain” company that young people in our Country very much wanted to save," Trump said Monday morning. "They will be very happy! I will be speaking to President Xi on Friday. The relationship remains a very strong one!!!"
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President Trump has delayed enforcement of a law that would ban TikTok in the U.S. three times. The first delay came through an executive order on Jan. 20, his first day in office. The second delay occurred in April, when White House officials believed they were close to finalizing a deal to spin off TikTok into a U.S.-owned company, a plan that never materialized. The latest delay, issued in June, is set to expire Sept. 17.
The law requires ByteDance, TikTok’s Chinese parent company, to divest from the popular video-sharing app. Lawmakers passed the bipartisan measure citing concerns that the Chinese government could compel the company to hand over U.S. user data or manipulate TikTok’s algorithm to influence public opinion.
TikTok has more than 170 million U.S. users, many of whom rely on the app for business and entertainment.
