President Donald Trump hinted on Truth Social on Monday that a TikTok deal was imminent.
“The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! It will be concluding shortly,” Trump wrote on Monday morning. “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!!! President DJT.”
Congress approved a law last year requiring TikTok to separate from its parent company, Beijing-based ByteDance, or face a permanent ban in the U.S. After multiple extensions, the deadline is now Wednesday. Shortly after Trump’s post, Treasury Secretary Scott Bessent said on Monday that the U.S. and China have agreed to the “framework” of a deal for Beijing-based ByteDance to divest TikTok to a U.S. buyer.
President Trump and Xi Jinping, China’s leader, are reportedly planning to speak on Friday and finalize the deal, per The New York Times.
“We were very focused on TikTok and making sure that it was a deal that is fair for the Chinese and completely respects U.S. national security concerns, and that’s the deal we reached,” Bessent said from Madrid.
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U.S. Treasury Secretary Scott Bessent addresses the media as he leaves a meeting, Sept. 15, 2025, in Madrid, Spain. The United States and China have reached an agreement on TikTok at the fourth round of negotiations in Madrid. Gustavo Valiente/Europa Press | Getty Images
Who Will Buy TikTok?
It is unclear at this time which suitor will take ownership, per CNBC. But there are many hopefuls.
Oracle is reportedly a frontrunner, as the company has been TikTok’s U.S. cloud provider since 2022. Kevin O’Leary has teamed up with billionaire former Dodgers owner Frank McCourt and Reddit co-founder Alexis Ohanian in “The People’s Bid.” AI startup Perplexity submitted a bid to merge its business with TikTok’s U.S. division for more than $50 billion. Amazon and Applovin also separately submitted bids.
“We’re not going to talk about the commercial teams of the deal,” Bessent said. “It’s between two private parties, but the commercial terms have been agreed upon.”
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