The U.S. Treasury Secretary announced that a “framework” deal has been established between Washington and China regarding the ownership of TikTok’s operations in the United States. This framework was agreed upon during trade discussions in Madrid, aimed at facilitating U.S. ownership of the social media platform. It is anticipated that U.S. President Donald Trump and Chinese President Xi Jinping will formalize the deal soon.
Trump stated on Truth Social that the talks in Madrid were successful, mentioning that a deal had been reached concerning a company that is popular among young Americans. Currently, there is a deadline approaching for TikTok’s Chinese parent company to secure a buyer for its American operations. Failure to do so could result in a ban on the app within the U.S. Despite the ongoing discussions, there has been no response from the Chinese government regarding the proposed deal.
Source: https://www.bbc.com/news/articles/c5yj5xj78p5o?at_medium=RSS&at_campaign=rss