The Trump administration announced Monday that a long-awaited deal has been reached with China to keep TikTok operational in the United States, ending years of negotiations and uncertainty over the app’s future.
US Treasury Secretary Scott Bessent confirmed that a framework agreement has been established and that President Donald Trump will hold talks with Chinese President Xi Jinping on Friday to finalize the deal. Bessent credited Trump’s leadership, noting that his involvement was critical in securing the agreement.
While the administration has not disclosed the American-backed buyer, industry analysts widely expect Oracle executive chairman Larry Ellison to lead the investment group. Ellison, who briefly became the world’s richest man earlier this month, has longstanding ties to TikTok. Oracle currently hosts TikTok’s US data and previously attempted to acquire the company’s American operations in 2020.
US Trade Representative Jamieson Greer said the deal balances economic cooperation with national security concerns, ensuring that the Chinese side maintains fair investment opportunities while protecting US interests.
TikTok and its parent company ByteDance have faced pressure since a bipartisan bill signed in 2023 required the app’s Chinese owner to divest US assets. TikTok briefly went dark in January 2025 when the law took effect, but Trump delayed enforcement through executive orders during his second term.
With around 170 million US users, TikTok remains one of the country’s most popular apps, particularly among young people. The finalized agreement is expected to play a major role in trade discussions between Trump and Xi later this year.
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