The Trump administration is working on a deal with China to determine TikTok’s fate, which could be finalized by the end of this week, according to reports citing Treasury Secretary Scott Bessent.
President Trump has plans to meet on Friday with China’s President Xi Jinping, and the two are expected to discuss the fate of the Chinese-owned social media platform. That means the deadline of Wednesday, Sept. 17, may pass before there’s a definitive resolution on the matter. The key question is whether ownership of TikTok will transfer to a US-based company. The platform could shut down temporarily in the US, as it has before, in accordance with a federal law passed last year.
Bessent said on Monday that the two countries have reached a preliminary deal and “commercial terms have been agreed upon.”
Neither TikTok nor the Treasury Department responded immediately to requests for comment.
An agreement over TikTok has been complicated by ongoing trade warring between the US and China and a new ruling against US-based Nvidia. China claims Nvidia has violated anti-monopoly laws in that country.
