"TikTok Deal Framework Agreed with China, Ending US Ownership Uncertainty"

US Reaches Framework Deal on TikTok Ownership with China, Deadline Looms The US Treasury Secretary Scott Bessent announced that Washington has reached a "framework" deal with China regarding the ownership of TikTok's American operations. According to Reuters, this framework was established during trade talks in Madrid and is intended to pave the way for US ownership. US President Donald Trump took to his Truth Social platform to share his thoughts on the negotiations, stating that they had "gone very well." Chinese officials confirmed a framework agreement but emphasized that no deal would be made at the expense of Chinese companies' interests. This development comes as a deadline looms for the Chinese owner of TikTok to find a buyer for its American operations. The talks between Trump and Chinese President Xi Jinping are expected to conclude on Friday, with Bessent stating that they will "complete" the deal by then. The framework agreement marks a significant step forward in resolving the long-standing dispute over TikTok's ownership. According to Reuters, this development is seen as a positive sign for US-China trade relations. TikTok has been at the center of a high-profile controversy surrounding its data collection practices and potential ties to the Chinese government. In August 2020, Trump signed an executive order requiring ByteDance, TikTok's parent company, to divest its ownership in the app within 90 days. However, this deadline was later extended, and negotiations between the US and China have continued. Experts say that the framework agreement is a significant breakthrough but caution that there are still many hurdles to overcome before a final deal can be reached. "This is a positive development, but it's just one step in a long process," said a tech industry analyst who wished to remain anonymous. "The devil will be in the details, and we'll have to wait and see how this plays out." As the deadline for finding a buyer approaches, ByteDance faces increasing pressure to secure a deal that meets US regulatory requirements. The fate of TikTok's American operations hangs in the balance, with many wondering what the future holds for the popular social media platform. In related news, the US Treasury Department has been working closely with lawmakers and regulators to ensure that any deal reached is in line with national security concerns. According to sources close to the matter, the department is reviewing proposals from several potential buyers, including Microsoft and Oracle. The outcome of these negotiations will have significant implications for the tech industry and beyond. As one expert noted, "This deal has far-reaching consequences not just for TikTok but also for the broader US-China trade relationship." This story was compiled from reports by BBC World and BBC Technology.