US authorities say they have reached a “framework” for a deal with China on the fate of the immensely popular short-video platform TikTok, an apparent breakthrough in the multi-year standoff over banning the Chinese-owned app.
Treasury Secretary Scott Bessent announced the news after two days of talks with Chinese officials in Madrid. He added that President Trump and Chinese leader Xi Jinping “will talk on Friday to finalize the deal”.
Trump posted on social media: “A deal has also been reached on a ‘certain’ company that young people in our Country wanted to save very much. They will be very happy! I will speak with President Xi on Friday. The relationship remains very strong!!!”
China’s state news agency Xinhua described the talks in Spain as “candid and in-depth,” but was less clear on whether the end of the TikTok saga is in sight. It said the two sides reached “a basic consensus on a framework to properly resolve TikTok-related issues through cooperation, reduce investment barriers, and promote relevant economic and trade cooperation”.
Last year, Congress passed the Protecting Americans from Foreign Adversary Controlled Applications Act, which bans TikTok in the US unless sold to a non-Chinese owner. The company is owned by Beijing-based ByteDance. Former President Biden signed the bill into law, and although TikTok sued arguing a ban violates users’ free speech rights, the law was upheld by the Supreme Court in early January.
It was set to take effect just days later, but Trump signed an executive order suspending the ban on Inauguration Day. He subsequently issued two more executive orders extending the delay, which is set to expire on Wednesday.
Since then, the Trump administration has been trying to negotiate a deal for a US company, or companies, to buy TikTok from ByteDance to avoid the app going dark in the United States. But the issue has become entangled in broader trade talks between Washington and Beijing, which include thorny topics like tariffs, fentanyl, microchips, and rare earths.
According to TikTok data, in early 2024, the app was used by more than half of Americans. That popularity has raised concerns among lawmakers and security experts that it could be used to influence or spy on US citizens.
During his first term, Trump tried to ban TikTok. But now he believes it helped him get reelected in 2024, and Trump said he likes the app. In August, the White House launched a TikTok account.
Source: npr.org by John Ruwitch