Washington: U.S. President Donald Trump said he will speak with Chinese President Xi Jinping on Friday as the two countries move “pretty close to a deal” on TikTok’s American operations.
According to Reuters, the proposed agreement would require ByteDance, TikTok’s Chinese parent company, to reduce its majority stake in the U.S. business, transferring control to American investors in order to address national security concerns. Trump also suggested that the enforcement deadline for divestiture could be extended, while keeping the same terms under negotiation.
According to Politico, Treasury Secretary Scott Bessent has already confirmed that Washington and Beijing have reached a “framework deal,” which will now be finalized in the upcoming Trump–Xi call. The arrangement is aimed at ensuring TikTok remains operational in the U.S. while curbing foreign influence.
The issue has become politically significant, with lawmakers pressing for strict enforcement of the law that requires divestiture of Chinese ownership. According to Reuters, critics warn that any loophole could still allow Beijing to exert indirect control through technology licensing agreements.
