US and China finalize framework for TikTok deal after Madrid talks
Washington and Beijing reached a framework deal on TikTok following two days of negotiations in Madrid, US Treasury Secretary Scott Bessent announced on Monday, Kazinform News Agency correspondent reports.
“We have a framework for a TikTok deal. The two leaders, President Trump and Party Chair Xi, will speak on Friday to complete the deal. But we do have a framework for a deal with TikTok,” Bessent said.
Talks at Madrid’s Santa Cruz Palace also addressed tariffs and export controls, according to China’s Ministry of Commerce. Still, TikTok remained at the center of the discussions as negotiators worked to balance security with fair market access.
“We were very focused on TikTok, making sure the deal is fair to China but also fully addresses US national security concerns. That’s what we achieved here. At the same time, we want to ensure that Chinese companies have a fair investment environment in the US, but national security will always come first,” said US Trade Representative Jamieson Greer.
The “TikTok ban saga,” as it has often been called online, has been a subject of debate in Washington for some time. The app was briefly blocked in the United States this year on January 18 when the Foreign Adversary Controlled Applications Act took effect. The law, signed earlier by former President Joe Biden, required parent company ByteDance to divest its American operations.
Since then, President Trump has extended enforcement deadlines multiple times, most recently in June. Under the terms of the agreed-on framework, TikTok will transfer ownership to a US-based company, though it remains unclear which one. Today, the platform counts around 170 million users in the United States, many of them young people.
Trump later confirmed both the deal and his upcoming meeting with the Chinese leader in a Truth Social post, writing: “The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! 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!!!“
Aside from TikTok, President Donald Trump has threatened the European Union with an investigation that could lead to additional tariffs after the European Commission fined Google 2.95 billion euro.
