The deal with China being worked on by the Donald Trump administration to determine the fate of TikTok could be completed by the end of this week, according to reports from Treasury Secretary Scott Bessant in the area.
President Trump is scheduled to meet with Chinese President Xi Jinping on Friday, and the two are expected to discuss the fate of the Chinese-owned social media platform. A Wednesday, Sept. 17, the deadline is looming to resolve the matter, but it could be some time before there is a final word on whether TikTok’s ownership will shift to a US-based company or whether the platform could temporarily shut down in the United States, as it has in the past, under a federal law passed last year.
According to Bessent, the two countries have reached a tentative agreement, and “commercial terms have been agreed upon.”
Neither TikTok nor the Treasury Department immediately responded to requests for comment.
The TikTok deal has been complicated by the ongoing trade war between the US and China, as well as a new ruling against US-based NVIDIA. China claims that Nvidia violated antitrust laws in the country .
