BREAKING: US, China Reach Framework Deal to Transfer TikTok Ownership amid Security Concerns

The United States and China have reached a framework agreement to transfer TikTok’s ownership to a US-controlled entity, ending a long-standing dispute over national security concerns. Jamieson Greer, the US Trade Representative, announced on Monday that Washington and Beijing have successfully negotiated the deal. Treasury Secretary Scott Bessent confirmed the agreement after high-level talks in Madrid but did not disclose the commercial terms. He said, “We have a framework for a TikTok deal,” and added that the specific commercial terms are private and agreed upon between two private parties.

This development follows Donald Trump’s post on his platform Truth Social, where he wrote, “The big trade meeting in Europe between the United States and China has gone VERY WELL! It will conclude shortly. A deal was also reached on a ‘certain’ company that young people in our country really wanted to save. They will be very happy! I will be speaking to President Xi on Friday. Our relationship remains very strong!!! President DJT” 

The agreement marks a breakthrough in the ongoing debate over TikTok’s ownership, particularly regarding its Chinese parent company, ByteDance. The US government has expressed fears that user data from the app could be accessed by Beijing. In March 2024, President Joe Biden signed legislation mandating ByteDance to sell TikTok to a US-approved buyer within nine months, or face a full ban on the app.

The deal now awaits final approval from US President Donald Trump and Chinese President Xi Jinping, who are set to hold talks on Friday. Greer emphasized the significance of the framework, stating, “We’re not going to be in the business of having repetitive extensions. We have a deal.”

This step is seen as a major move to ensure digital security while preserving the popular social media platform’s operations in the United States.