Trump Unveils Framework for TikTok Deal
Donald Trump announced a potential agreement between the United States and China regarding TikTok’s operations in the U.S. He plans to finalize the details with President Xi Jinping later this week.
Trump shared these updates on Truth Social shortly before the conclusion of the U.S.-China trade talks in Madrid, calling the negotiations a success. He specifically mentioned TikTok, stating, ‘A deal was reached on a certain company dear to our youth. They will be pleased.’
Ownership Framework Outlined by Treasury
Treasury Secretary Scott Bessent outlined a framework agreement for TikTok, originating from the Madrid talks he led. The plan, pending approval from Trump and Xi on Friday, aims to place TikTok under a U.S.-controlled ownership structure.
Bessent withheld further specifics, stressing the need to confirm details in the forthcoming Trump-Xi call. ‘We have a framework. They must confirm the deal,’ he remarked.
ByteDance Divestment and Looming Deadline
The Trump administration has extended ByteDance’s congressional deadline multiple times to divest its U.S. operations. Without compliance, a nationwide ban could be implemented.
After three extensions, the current deadline is Wednesday. The Madrid agreement seeks to resolve this issue before the due date.
Madrid Trade Talks and Broader Economic Discussions
The Madrid trade talks are part of a broader series, following discussions in Geneva, London, and Stockholm. The U.S. and China are preparing for a meeting between Trump and Xi next month.
The Financial Times reported that China invited Trump to a summit in Beijing, though the White House has not responded yet.
Key Outcomes of the Madrid Negotiations
- Mutual agreement on TikTok ownership framework
- Plans for a U.S.-controlled ownership structure
- Anticipated presidential approval during Friday’s call
- Set deadline for ByteDance divestment resolution before Wednesday
Summit Location Under Discussion
In Washington, progress on wider trade issues or fentanyl discussions remains limited. Debate continues over whether Trump should meet Xi in Beijing.
Some officials propose a neutral location for the summit.
