The US and China reach a framework agreement on the TikTok platform.
On September 15, US Treasury Secretary Scott Bessent announced that the US and China had reached a framework agreement regarding the operation of the TikTok platform in the country, as part of trade and economic negotiations held in Madrid, Spain from September 14-17.
According to Bessent, this framework agreement aims to transfer TikTok to US-controlled ownership, but the final details will be discussed by US President Donald Trump and Chinese President Xi Jinping during a phone call, scheduled for September 19.
Earlier, on the social media platform Truth Social, President Trump announced that the US had reached an agreement with a company popular with young people, while also asserting that the trade meeting with China in Europe went "very well."
The agreement comes as TikTok faces the risk of being banned from operating in the US from September 17 if it does not meet the requirements for a change of ownership. US Trade Representative Jamieson Greer said Washington may extend the deadline slightly to finalize the deal.
In addition to the TikTok issue, the two sides also discussed tariffs, economic policies, cooperation in combating money laundering, and preventing fentanyl trafficking. Mr. Bessent revealed that the US and China may hold another round of negotiations in the coming weeks.
