US - China reach framework agreement on TikTok platform
On September 15, US Treasury Secretary Scott Bessent said the US and China had reached a framework agreement regarding the operations of the TikTok platform in the country, within the framework of the trade and economic negotiations taking place in Madrid, Spain from September 14-17.
According to Mr. 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 in a phone call, expected to take place on September 19.
Previously, on the social network Truth Social, President Trump announced that the US had reached an agreement with a company popular with young people, and affirmed that the trade meeting with China in Europe went "very well".
The deal comes as TikTok faces a possible ban in the US from September 17 if it fails to meet the requirements for a change in ownership. US Trade Representative Jamieson Greer said Washington could extend the deadline to complete the deal.
In addition to TikTok, the two sides also discussed tariffs, economic policy, cooperation against money laundering and preventing the trafficking of fentanyl. Mr. Bessent revealed that the US and China could have another round of negotiations in the coming weeks.
