The U.S. has reached a framework agreement with China over TikTok, Treasury Secretary Scott Bessent confirmed Monday, just days before the latest ban deadline. The deal comes as delegations from both countries met in Madrid for trade discussions.
- Bessent told CNBC that “commercial terms have been agreed upon” between two private parties regarding TikTok’s future operations in the U.S.
- President Donald Trump posted on Truth Social that “a deal was also reached on a certain company that young people in our Country very much wanted to save.”
- Trump said he will speak with Chinese President Xi Jinping on Friday following the trade meetings in Europe.
- The framework deal arrives ahead of the September 17 deadline, the fourth ban deadline since Trump took office.
- The U.S. initially banned TikTok in January 2024 under legislation signed by former President Joe Biden, but Trump has signed multiple executive orders to keep the app operating.
- Reuters earlier reported the U.S. was prepared to ban TikTok if China did not ease demands on tariffs and technology restrictions.
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Editor’s Note: This is a developing story. This article may be updated as more details become available.
