Overview

• Trump said the two countries have a preliminary understanding to keep the app operating in the U.S., with a confirmation call with Xi Jinping scheduled for Friday.
• The administration granted a fourth 90‑day extension to the divestiture deadline, now December 16, after Madrid talks that Treasury Secretary Scott Bessent described as close to resolution.
• Reports indicate a new U.S.-based entity could take over the American business with majority ownership by U.S. investors, and media have named Oracle, Silver Lake and Andreessen Horowitz as potential participants.
• Chinese state media called the preliminary arrangement a win-win and said China will review technology exports and intellectual property licensing related to the platform.
• Key lawmakers from both parties voiced doubts and demanded details, citing concerns over ongoing control of the recommendation algorithm and the safeguarding of U.S. user data.