President Donald Trump announced Tuesday that Washington and Beijing have reached an agreement over the future of TikTok, the hugely popular video-sharing platform at the center of a heated geopolitical standoff.
“We have a deal on TikTok. I’ve reached a deal with China, and I’ll be speaking with President Xi on Friday to finalize everything,” Trump told reporters as he departed the White House for a state visit to Britain.
The announcement comes after US Treasury Secretary Scott Bessent said the two sides were “very close” to resolving the issue during resumed trade and technology talks in Madrid, led by Bessent and Chinese Vice Premier He Lifeng.
TikTok, owned by Beijing-based ByteDance, has faced intense scrutiny in Washington over alleged national security risks.
A federal law mandating its sale or ban was set to take effect on January 20, the day before Trump’s inauguration.
While Trump initially supported banning or forcing a sale of the platform, he reversed course after concluding that TikTok’s enormous influence — with nearly two billion global users — had bolstered his popularity among younger voters during the 2024 election.
In June, Trump extended TikTok’s divestment deadline by 90 days, a grace period set to expire Wednesday.
The new deal is expected to shift TikTok into US-controlled ownership, averting a nationwide ban and easing a major flashpoint in US-China relations.
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