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US, China reach ‘framework’ deal for TikTok

TechCrunch · Ivan Mehta · last updated
The “framework” deal with China is “between two private parties, but the commercial terms have been agreed upon,” CNBC quoted Bessent as saying on the sidelines of a meeting between the two countries in Madrid on Monday.
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Related Knowledge Center: The TikTok ban

State of Play

The U.S. Congress passed and President Joe Biden signed into law a measure banning TikTok if it weren’t sold by its Chinese ownership. But now-President Donald Trump gave the service a reprieve, and a sale of its U.S. operations appears imminent.

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