Source: Sharecast
In a post on his Truth Social platform on Monday, the US president said trade negotiations in Madrid between American and Chinese officials had “gone very well” and suggested they had produced a deal on “a ‘certain’ company that young people in our Country very much wanted to save [sic]”.
He added that he would speak to Chinese president Xi Jinping on Friday and said the “relationship remains a very strong one”.
US Treasury secretary Scott Bessent, who was leading the talks, confirmed from Madrid that a “framework” deal had been reached over TikTok’s American operations and said its commercial terms had been agreed.
He said the agreement would be finalised during Friday’s call between Trump and Xi.
Bessent added that the plan could involve US-controlled ownership of the video-sharing platform.
The Biden-era Foreign Adversary Controlled Applications Act requires TikTok’s Chinese owner ByteDance to sell its US business or face a nationwide ban, and prohibits app stores from distributing the app if it remains under Chinese control.
The Trump administration has repeatedly pushed back its enforcement deadline, which is currently set for Wednesday, with officials signalling that one final short extension may be granted to allow the deal to be completed.
The agreement, if confirmed, would mark the conclusion of a yearslong effort by Washington to force a change in ownership of TikTok on national security grounds.
Trump, who once advocated banning the platform, had more recently credited it with helping him win support from younger voters in the 2024 election.
Reporting by Josh White for Sharecast.com.
