TikTok’s appears to be safe to continue operating in the US.
The video social media app’s business in America was under threat by a law to ban it, on national security concerns over the app’s Chinese parent company ByteDance, unless it was sold to US interests.
However, Washington and Beijing have reached what they call a framework agreement to transfer TikTok’s ownership to US control.
President Donald Trump, on social media, said the trade meeting in Europe between the US and China “has gone VERY WELL!
“It will be concluding shortly. A deal was also reached on a ‘certain’ company that young people in our country very much wanted to save. They will be very happy!”
US Treasury secretary Scott Bessent wouldn’t go into the details of the deal but said the two countries have formed a "framework for a TikTok deal”.
“We’re not going to talk about the commercial terms of the deal,” he said.
“It’s between two private parties, but the commercial terms have been agreed upon.
“We were very focused on TikTok and making sure that it was a deal that is fair for the Chinese and completely respects U.S. national security concerns and that’s the deal we reached.”
Xinhua, the official national news agency of China, reported the two sides “reached a basic framework consensus” on resolving issues related to TikTok.
Both sides will work on the details, according to Li Chenggang, China international trade representative with the Ministry of Commerce and vice minister of commerce.
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