The United States has reached a “framework” deal with China over TikTok, CNBC reported, citing Treasury Secretary Scott Bessent.
“It’s between two private parties, and the commercial terms are already agreed,” Bessent said during a U.S.–China meeting in Madrid on Monday.
The announcement came less than an hour after President Donald Trump hinted at the agreement on his social platform, Truth Social.
“A deal was also reached on a company that young people in our country wanted to save,” Trump wrote. He added that he will speak with China’s President Xi Jinping on Friday.
The timing is crucial. The post arrived only days before the September 17 deadline for a possible U.S. ban on the app. Delegations from both nations also met in Madrid to discuss economic policy.
In June, Trump suggested he had already found potential buyers for TikTok. Earlier on Monday, Reuters reported that the U.S. was ready to ban the app if China did not ease demands on tariffs and technology restrictions.
TikTok previously faced a ban on January 19 after a federal law signed by former President Joe Biden took effect. Since entering office, however, Trump has issued several executive orders to keep the app operating in the U.S.
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