Treasury Secretary Scott Bessent announced that the TikTok agreement is scheduled for completion on Thursday, setting a firm timeline for a deal that has been under negotiation since last month.
The announcement precedes a planned meeting between U.S. President Donald Trump and Chinese President Xi Jinping.
The agreement concerns TikTok, a social media platform owned through China-based ByteDance. U.S. officials have raised data security concerns related to Chinese ownership. Negotiations have focused on compliance with U.S. regulations and safeguards for data involving American users.
Secretary Bessent stated that the expected signing would establish a framework allowing TikTok to continue operating in the United States. Details of the agreement have not been disclosed. Individuals familiar with the talks have indicated that the deal may require changes involving data governance and oversight of TikTok’s U.S. operations.
The discussions take place alongside broader trade and technology issues affecting U.S.-China relations. Reports have suggested that an American company may take a significant stake in TikTok’s U.S. business structure, though no company has been publicly confirmed at this stage.
Secretary Bessent’s announcement concludes weeks of uncertainty regarding TikTok’s status in the United States. Market analysts, legal observers, and policymakers are monitoring the outcome ahead of the expected signing on Thursday.