President Donald Trump signed an executive order on Thursday approving the transfer of TikTok’s U.S. operations from Chinese owner ByteDance to a consortium of American investors, preventing the app from being banned under U.S. national security law.
President Donald Trump said in the Oval Office that Chinese President Xi Jinping had approved a deal for U.S. firms to acquire TikTok’s American operations, calling an earlier phone call with Xi “very productive” on trade, fentanyl, Ukraine, and the TikTok deal.
President Donald Trump said on Tuesday that the U.S. and China have a deal that would keep TikTok operating in the United States, transferring its U.S. assets to U.S. owners from China's ByteDance, potentially resolving a saga that has lingered for nearly a year.
A framework deal has been reached between the U.S. and China over the ownership of social media platform TikTok, U.S. Treasury Secretary Scott Bessent said following trade talks in Madrid.
The Trump administration is expected to delay enforcement of a law requiring Chinese tech firm ByteDance to sell or shut down its U.S. operations of TikTok, a source familiar with the matter told Reuters on Sunday days ahead of a 17 September deadline.
The United States will make several trade announcements in the next 48 hours, Treasury Secretary Scott Bessent said on Monday, ahead of a U.S. deadline on Wednesday to finalize trade pacts.
U.S. President Donald Trump announced plans to begin talks with China early next week about a potential TikTok deal, signaling progress toward resolving the app’s U.S. ownership issues.
Following the U.S. tariff impositions, President Donald Trump revealed that China has sought discussions, but he will delay any agreement on TikTok until the trade issues with China are addressed.
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