US, China Reach Framework Deal on TikTok Ownership

The United States and China have reached a framework agreement aimed at divesting TikTok from its Chinese parent company, ByteDance, to address ongoing national security concerns. Treasury Secretary Scott Bessent confirmed the deal would transition TikTok to U.S.-controlled ownership, with President Donald Trump scheduled to finalize the agreement with Chinese President Xi Jinping. This development follows months of intense negotiations and multiple deadline extensions granted by Trump to prevent a ban on the popular app under the Protecting Americans from Foreign Adversary Controlled Applications Act. While commercial terms remain undisclosed, the deal is expected to ensure that TikTok's U.S. user data is protected and inaccessible to the Chinese government, potentially allowing TikTok to continue operating in the U.S. The agreement also marks a significant step toward easing U.S.-China tensions related to digital trade and technology. Chinese officials have yet to officially confirm the arrangement, and some details remain to be clarified during the upcoming Trump-Xi meeting.