US says framework for deal on future of TikTok ownership agreed with China

The deal will pave the way to US ownership of the social media platform' s American operations, according to the US treasury secretary.

Watch LiveBritish Broadcasting CorporationHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveHomeNewsIsrael-Gaza WarWar in UkraineUS & CanadaUKUK PoliticsEnglandN. IrelandN. Ireland PoliticsScotlandScotland PoliticsWalesWales PoliticsAfricaAsiaChinaIndiaAustraliaEuropeLatin AmericaMiddle EastIn PicturesBBC InDepthBBC VerifySportBusinessExecutive LoungeTechnology of BusinessFuture of BusinessInnovationTechnologyScience & HealthArtificial IntelligenceAI v the MindCultureFilm & TVMusicArt & DesignStyleBooksEntertainment NewsArtsArts in MotionTravelDestinationsAfricaAntarcticaAsiaAustralia and PacificCaribbean & BermudaCentral AmericaEuropeMiddle EastNorth AmericaSouth AmericaWorld’s TableCulture & ExperiencesAdventuresThe SpeciaListTo the Ends of The Earth EarthNatural WondersWeather & ScienceClimate SolutionsSustainable BusinessGreen LivingAudioPodcast CategoriesRadioAudio FAQsVideoLiveLive NewsLive SportHomeNewsSportBusinessInnovationCultureArtsTravelEarthAudioVideoLiveWeatherNewslettersWatch LiveUS says 'framework' for TikTok ownership deal agreed with China1 hour agoShareSaveJessica RawnsleyBBC NewsShareSaveReutersThe US treasury secretary has said Washington has reached a "framework" deal with China on the ownership of TikTok's American operations.

Scott Bessent said the framework was set in trade talks in Madrid to pave the way for US ownership. He added that US President Donald Trump and Chinese President Xi Jinping would "complete" the deal on Friday. China has not commented.

Trump said on Truth Social that talks in Madrid had "gone very well", with a deal reached "on a certain company that young people in our country very much wanted to save".

A deadline is looming for the Chinese owner of TikTok to find a buyer for its American operations or face a ban in the US.

In January, the US Supreme Court upheld a law passed in April 2024, banning the video-sharing app unless its parent company ByteDance sold its US division.