Trump Unveils Framework for TikTok Deal
Donald Trump announced a potential agreement between the United States and China concerning TikTok’s operations within the U.S. Plans to finalize details with President Xi Jinping are underway for later this week.
Trump shared these updates on Truth Social, coinciding with the conclusion of successful U.S.-China trade talks in Madrid. He 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 presented a framework agreement for TikTok, rooted in the Madrid talks he led. This plan, awaiting approval from Trump and Xi on Friday, proposes a U.S.-controlled ownership structure for TikTok.
Bessent did not divulge further specifics, emphasizing the need for confirmation during the forthcoming Trump-Xi call. “We have a framework. They must confirm the deal,” he noted.
ByteDance Divestment and Looming Deadline
The Trump administration has repeatedly extended ByteDance’s congressional deadline to divest its U.S. operations. Without compliance, a nationwide ban could be enforced.
Following three extensions, the current deadline is Wednesday. The Madrid agreement aims to resolve this issue before the due date.
Madrid Trade Talks and Broader Economic Discussions
The Madrid talks are part of a broader series following prior 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 has invited Trump to a summit in Beijing, though the White House has not yet responded.
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 broader trade issues or fentanyl discussions remains limited. Debate continues on whether Trump should meet Xi in Beijing, with some officials proposing a neutral location for the summit.
