News Brief
US, China Seal Framework Deal On TikTok Ownership Transfer: Report
TikTok
Washington and Beijing reached a framework agreement on transferring TikTok to US-controlled ownership, US and Chinese trade officials confirmed on Monday (15 September), reported The Guardian.
US treasury secretary Scott Bessent announced the breakthrough after high-level talks in Madrid.
“We have a framework for a TikTok deal,” he told reporters. “We’re not going to talk about the commercial terms of the deal. It’s between two private parties, but the commercial terms have been agreed upon.” Bessent said Chinese negotiators had made “aggressive asks” but declined to elaborate.
Li Chenggang, China’s top trade negotiator, also confirmed the outcome. He said both sides had reached “a basic framework consensus on resolving issues related to TikTok through cooperation, reducing investment barriers and promoting trade.”
Li warned Washington against ongoing restrictions: “We would like to stress that the outcomes of the trade and economic consultations are hard won, and the US side should not, on the one hand, ask China to accommodate its concerns, whilst at the same time continue to suppress Chinese companies.”
TikTok briefly went dark in January 2025 before Trump reversed the ban within hours. The US, which has more than 135 million TikTok users, still prohibits the app on government devices.
Bessent said final details would be settled when Trump meets Xi Jinping on Friday. Jamieson Greer, a US trade representative, added: “We’re not going to be in the business of having repetitive extensions. We have a deal.”
