Overview
- Following talks in Madrid led by Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, both sides announced a framework for moving TikTok’s U.S. operations to U.S.-controlled ownership.
- President Donald Trump signed a decree pushing the divest-or-ban deadline to December 16, 2025, allowing TikTok to continue operating in the United States.
- Trump and Chinese President Xi Jinping are slated to speak Friday to finalize the arrangement, according to U.S. officials.
- Officials said commercial terms have been agreed between private parties, with key specifics not disclosed, including ownership structure, algorithm oversight and data-access safeguards.
- Chinese representatives described a basic consensus to resolve the matter through cooperation, and coverage indicates the arrangement targets only the U.S. market with no change to service elsewhere.