US Treasury Secretary said Washington has reached a “framework” contract with China for Tiktok’s ownership.
Scott Bessent said the framework was set to open a way for US ownership in Madrid’s trade negotiations. He added that US President Donald Trump and Chinese President Xi Jinping will “complete” trading on Friday. China did not mention it.
Trump said Madrid’s conversation about the truth society was “very well disappeared.”
Tiktok’s Chinese owner is looking for a buyer for the US operation or facing a ban in the United States.
In January, the US Supreme Court supported the law passed in April 2024 and banned the video sharing app unless the parent company BYTEDANCE sold the US department.
The US Department of Justice said that the access to Tiktok’s data on US users raises a “tremendous depth and scale national security threat.”
Bytedance repeatedly insisted that the US operation was completely independent and not shared with the Chinese government. The company insisted that the ban will violate the protection of free media for 170 million US users.
Tiktok became dark in January after the law came into effect. Trump intervened and issued a 75 -day smoke.
The sale deadline has been extended three times since then, and the recent delay on this ban will be terminated on September 17.
Tesla owner Elon Musk, YouTube producer MRBAST and billionaire investor Frank McCourt have been promoted as a potential buyer of the platform.
Bessent announced a “framework” deal with the goal of ending the trade war between the world’s two economies on the second day of trade talks between the United States and China.
