Once again, the Trump administration is hyping a deal that could see TikTok finally sold to US owners to avoid a nationwide ban that Congress successfully argued was otherwise necessary to protect national security.
On Monday, Treasury Secretary Scott Bessent confirmed that the US and China had ironed out a "framework" for the deal, but ultimately, Donald Trump will be responsible for closing the deal on a call this Friday with China's president, Xi Jinping, CNBC reported. Critically, Bessent said that the framework pointed to a "switch to US-controlled ownership," the South China Morning Post (SCMP) reported.
Presumably, TikTok won't shut down ahead of Trump's call with Xi, but TikTok risked going dark as soon as Wednesday. That's the latest deadline for the forced sale after Trump extended the deadline three times as negotiations with China remained tense.
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Source: Ars Technica
