US and China reach framework agreement on TikTok, US ownership control?

On September 15, US officials announced that the Trump administration and China had reached an agreement allowing TikTok to continue operating in the US.

TikTok has about 170 million users in the US, mostly young people - Illustration photo: REUTERS

According to CNN, US Treasury Secretary Scott Bessent said Washington and Beijing have reached a framework agreement. US President Donald Trump will have a phone call with Chinese President Xi Jinping on September 19 to finalize the agreement.

"President Trump played a key role in this. We had a call with him last night, received specific instructions from him and shared them with our Chinese counterparts. Without the leadership and leverage he provided, we could not have reached the agreement today," Mr. Bessent said in Madrid, Spain, on September 15.

Mr Bessent said TikTok would “transition to US-controlled ownership” under the framework agreement.

The Trump administration has not named the U.S. buyer. But in January, Trump said he would support Oracle Chairman Larry Ellison’s bid to buy TikTok in the U.S.

US and Chinese diplomats met in Spain to discuss trade and other issues this week. Mr. Bessent, who led the US delegation, said TikTok was among the topics discussed.

"We've been very focused on TikTok, making sure that this is a fair deal for China and fully respects the national security concerns of the United States. And that's the deal that we've reached. We also want to make sure that China has a fair investment environment in the United States. But US national security is always the top priority," Mr. Bessent said on September 15.

TikTok and its Chinese parent company ByteDance did not respond to requests for comment on the deal.

Mr Trump has repeatedly extended the deadline for reaching a deal with China to sell at least part of ByteDance’s US TikTok business to a Washington-backed owner.

Reuters noted that this is the second time this year that the two sides have said they are close to formally reaching a deal on TikTok. The previous announcement was made in March, but ultimately did not materialize.

It is unclear whether parent company ByteDance will transfer control of TikTok’s core technology to a U.S. buyer. Details of the framework agreement are scarce.

Any deal would likely need approval from the US Congress , which is controlled by Republicans.

In 2024, the US Congress passed a bill requiring ByteDance to divest from TikTok due to concerns that TikTok user data in the US could be accessed by the Chinese government , allowing Beijing to spy on Americans or conduct influence campaigns through TikTok.

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Source: https://tuoitre.vn/my-va-trung-quoc-dat-thoa-thuan-khung-ve-tiktok-quyen-so-huu-my-kiem-soat-20250915225216973.htm