US and China reach framework agreement for TikTok sale

• The agreement follows years of political disputes over ByteDance’s ownership and national security concerns.
• Treasury Secretary Scott Bessent confirmed the commercial terms of the deal have been agreed “between two private parties.”
• ByteDance still faces a September 17th deadline to divest its US business or risk a shutdown.

The US Trump administration claims to have reached a framework agreement with ByteDance and China for the sale of the company's US TikTok operations.

The deal follows years of negotiations and political disputes over national security concerns tied to TikTok’s Chinese parent company, ByteDance, dating back to Trump’s first term as president.

Although the buyer is yet to be revealed, the US president posted that an agreement has been reached. 

A number of bidders have expressed interest in acquiring TikTok in the US, including MrBeast, Perplexity AI, Oracle Corp, Amazon and AppLovin. Shares in Oracle in particular have surged on the news as investors speculate it's the winning buyer.

“The big Trade Meeting in Europe between The United States of America, and China,  has gone VERY WELL!," said Trump. “It will be concluding shortly. A deal was also reached on a “certain” company that young people in our Country very much wanted to save. 

“They will be very happy! I will be speaking to President Xi on Friday. The relationship remains a very strong one!!!"

Buyer under wraps

US Treasury Secretary Scott Bessent also told CNBC that a  “framework" deal has been reached between the two countries. 

“It's between two private parties, but the commercial terms have been agreed upon," he said from US-China talks in Madrid.

President Trump and Chinese President Xi Jinping are scheduled to speak on Friday to discuss TikTok’s future, as ByteDance faces a September 17th deadline to divest its US business or risk being shut down.