US, China reach framework deal on TikTok; Trump, Xi to confirm it in call

The US and China reached a framework agreement to switch short-video app TikTok to US-controlled ownership that will be confirmed in a call between President Donald Trump and Chinese President Xi Jinping on Sept 19, US officials said on Sept 15.

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US Treasury Secretary Scott Bessent said a Sept 17 deadline that could have switched off the popular social media app in the US encouraged Chinese negotiators to reach a potential deal.

He said that deadline could be extended by 90 days to allow the deal to be finalised. He declined to discuss the specifics of the deal.

Mr Bessent said when commercial terms of the deal are revealed, it will preserve aspects of TikTok that Chinese negotiators care about, including its “Chinese characteristics”.

“They're interested in Chinese characteristics of the app, which they think are soft power.

“We don’t care about Chinese characteristics. We care about national security,” Mr Bessent told reporters at the conclusion of two days of talks in Madrid.

It is the second time this year that the two sides have said they were nearing a TikTok deal.

The earlier announcement in March did not pan out.