Social Signals
TikTok’s U.S. future rests on Trump–Xi meeting this week
Sep
Treasury Secretary Scott Bessent said Monday that Washington and Beijing have reached a “framework” agreement over TikTok’s future, potentially clearing the way for U.S.-controlled ownership of the app.
- “It’s between two private parties, but the commercial terms have been agreed upon,” Bessent said during U.S.-China trade talks in Madrid.
- Presidents Donald Trump and Xi Jinping are expected to meet this Friday to discuss the terms.
- TikTok’s parent, ByteDance, faces a Sept. 17 deadline to divest or risk a U.S. shutdown.
Why we care. The deal may put an end to a major U.S.-China tech standoff, as Trump repeated warned TikTok can’t stay in the U.S. without American ownership.
The details. Trump said in a Truth Social post that a deal was reached involving a company “young people in our Country very much wanted to save.”
- U.S. Trade Rep. Jamieson Greer suggested the deadline could be extended briefly to finalize signatures, but stressed no rolling extensions.
- The framework comes after months of executive order extensions delaying a shutdown.
Between the lines. Congress last year barred Apple and Google from distributing TikTok in U.S. app stores, labeling it a “foreign adversary-controlled application.”
- Several potential U.S. buyers have surfaced, including Oracle’s Larry Ellison, Tesla’s Elon Musk, AI startup Perplexity, and Frank McCourt’s Project Liberty.
What’s next. Trump and Xi’s meeting will determine whether the framework becomes a binding deal, averting TikTok’s forced exit from the U.S. market.
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