CNBC reported on Tuesday, September 16, that the deal is expected to close within the next 30 to 45 days and that the agreement will include existing investors in TikTok’s China-based parent Bytedance and new investors. | Photo credit: Reuters
President Donald Trump announced Tuesday (September 16, 2025) that the United States and China have a deal that will keep short-form video app TikTok operating in the United States by transferring its U.S. assets to U.S. owners from the Chinese division, potentially resolving a saga that has dragged on for nearly a year.
The deal for the popular social media app, which has 170 million U.S. users, marks a breakthrough in months of talks between the world’s No. 1 and No. 2 economies, which have sought to defuse a wide-ranging trade war that has rattled global markets.
Mr. Trump did not announce specifics of the deal. Any agreement could require approval by the Republican-controlled Congress, which passed a law in 2024 during the Biden administration that required the divestiture because the Chinese government could access TikTok’s U.S. user data, allowing Beijing to spy on Americans or conduct influence operations through the app.

The Trump administration has repeatedly refused to enforce a law requiring the app to shut down the app because it would anger the app’s millions of users and disrupt political communication, instead extending the takedown deadline on three separate occasions. Mr. Trump has credited the app with helping him win re-election last year, and his personal account has 15 million followers. The White House launched an official TikTok account last month.
CNBC reported on Tuesday that the deal is expected to close in the next 30 to 45 days and that the agreement will include existing investors in TikTok’s China-based parent Bytedance and new investors. Reuters has not independently verified the report.
A deal had been in the works in the spring that would have spun off TikTok’s US operations into a new US-based company majority-owned and operated by US investors, but it was put on hold after China indicated it would not approve it following Trump’s announcements of steep tariffs on Chinese goods.
Published – September 16, 2025 07:24 PM IST