US warns framework for deal on future of TikTok ownership agreed with China

US Reaches Framework Deal with China on TikTok Ownership Washington has reached a "framework" deal with China on the future of TikTok's US operations, paving the way for American ownership as part of ongoing trade negotiations between the world's two largest economies. According to US Treasury Secretary Scott Bessent, the framework was established during talks in Madrid on Monday. The development comes ahead of a Wednesday deadline for ByteDance, TikTok's Chinese parent company, to find a buyer for its US operations or face a ban due to national security concerns. The deadline has been extended three times already, with the latest delay set to expire on September 17. US President Donald Trump expressed optimism about the talks, stating on his Truth Social platform that they had "gone very well." Chinese officials confirmed a framework agreement but emphasized that any deal would not compromise the interests of their companies. The proposed deal involves Oracle, among other firms, which would enable TikTok operations to continue in the US if a final agreement is reached between Washington and Beijing. Oracle has been involved in previous attempts to acquire TikTok's US assets. TikTok has faced scrutiny over data security concerns, with the US government citing national security risks associated with its Chinese ownership. The company has maintained that it stores user data outside of China and adheres to strict data protection policies. The development marks a significant step forward in negotiations between the two countries. As part of ongoing trade talks, Washington is seeking concessions from Beijing on issues including intellectual property protection and market access for US companies. With this framework deal in place, attention will now shift to the finalization of the agreement by President Trump and Chinese leader Xi Jinping on Friday. The outcome will have significant implications for TikTok's future in the US, as well as the broader trade relationship between the two countries. In a statement, Bessent said: "This framework represents an important step forward in our negotiations with China." He added that the deal would enable TikTok to continue operating in the US while addressing national security concerns. The development has been met with caution by some experts, who note that the agreement is still subject to final approval. Others have expressed concern about the potential impact on data security and user privacy. As the deadline for a sale looms, it remains to be seen whether a final deal will be reached between Washington and Beijing. The outcome will have far-reaching implications for TikTok's future in the US and the broader trade relationship between the two countries. *Reporting by Bbc.*