For a long time, it seemed like the Trump administration and TikTok were at war, with a potential ban always on the horizon. But now, it looks like that long, drawn-out battle might finally be over. The U.S. and China have reached a “framework” for a deal to keep the popular app running in the States, and it sounds like everyone is pretty happy about it. This is a massive shift from where things were even a few months ago, and it’s a big deal for the millions of people who use the app.
Treasury Secretary Scott Bessent was the one to announce the news to reporters, per Politico. He was there meeting with Chinese trade officials to work through a bunch of issues, with TikTok being a pretty big one on the agenda. “We have a framework for a TikTok deal,” Bessent said. This agreement, which is a major breakthrough in the long-running dispute, would essentially transition TikTok to a U.S.-controlled ownership. Details on the commercial terms of the deal are still a secret, though, with Bessent stating, “We’re not going to talk about the commercial terms of the deal. It’s between two private parties, but the commercial terms have been agreed upon”.
