US and China reach deal to transfer TikTok ownership, trade officials say

The TikTok logo is displayed on signage outside the social media app company’s offices in Culver City, California. Photograph: Bloomberg/Getty Images

Jamieson Greer, a US trade representative, said on Monday that Washington and Beijing have struck a framework agreement on transferring TikTok to US-controlled ownership.

Speaking after emerging from negotiations with Chinese officials, Scott Bessent said the deal was coming but declined to reveal the commercial terms.