Days ahead of a thrice-extended, September 17 deadline for TikTok to sell to a US owner to avoid a nationwide ban, the US and Chinese governments have carved out a “framework for a TikTok deal,” Treasury Secretary Scott Bessent said on Monday.
The soon-to-be U.S. owner of TikTok, which has 170 million users, seven million of which use the app for business, was not disclosed. President Donald Trump and Chinese President Xi Jinping will finalize plans for a sale on Friday, Trump said in a Truth Social post on Monday morning.
In January, the Supreme Court unanimously upheld a law banning TikTok from app stores nationwide if it did not divest from its Chinese owner, ByteDance, due to what both the Trump and Biden administrations called national security concerns. Days later, the app briefly shuttered shortly ahead of its scheduled ban, but was reinstated throughout multiple deadline extensions from the Trump administration.
This story first appeared on PRWeek U.S.
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