"Time is running out before September 17, the U.S. government's latest delayed deadline for ByteDance to either divest TikTok or face a ban of it from American app stores. Although the Chinese parent company has not publicly announced that it is selling TikTok to U.S.-based owners, the Trump administration is claiming that it has found a solution. Treasury Secretary Scott Bessent said on September 15 that the U.S. and China have reached a "framework for a TikTok deal," per NBC."
"While he did not expand on who exactly will be in charge of TikTok's algorithm in the future, Bessent said the deal was "between two private parties" and that "commercial terms have been agreed upon," adding that the agreement is both "fair for the Chinese and completely respects U.S. national-security concerns." His remarks came shortly after Donald Trump already made a celebratory post on Truth Social."
Time is running out before September 17, the U.S. government's delayed deadline for ByteDance to divest TikTok or face a ban from American app stores. The Chinese parent company has not publicly announced a sale to U.S.-based owners. The U.S. and China have reached a framework for a TikTok deal. The deal is reportedly between two private parties, with commercial terms agreed and designed to be fair for the Chinese while respecting U.S. national-security concerns. President Trump posted that a deal was reached and planned to speak to President Xi. Congress passed a law requiring divestment last year, and the sale deadline has been extended multiple times with a possible further extension.
Read at Vulture
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