Overview

• Treasury Secretary Scott Bessent said negotiators in Madrid agreed on a framework that would shift TikTok to U.S.-controlled ownership.
• President Donald Trump posted that a deal on a "certain" company had been reached, widely interpreted as TikTok, with details to follow his call with President Xi Jinping.
• U.S. Trade Representative Jamieson Greer said the Sept. 17 deadline could be briefly extended to complete paperwork, though he ruled out ongoing extensions.
• The talks, led by Bessent and Chinese Vice Premier He Lifeng, are part of broader trade negotiations in which U.S. officials say China made "aggressive" asks on tariffs and export controls.
• Key specifics, including the buyer consortium and safeguards for data and the recommendation algorithm, were not disclosed as officials stressed national security remains paramount.