U.S. Treasury Secretary Scott Bessent confirmed on Monday that an agreement has been reached with China for TikTok to be under U.S. control.

While Bessent did not disclose financial or operational details, he stated that the deal still requires ratification by leaders Donald Trump and Xi Jinping. 

The agreement ensures that the U.S. branch of TikTok, owned by Chinese parent company ByteDance, will be controlled by U.S. investors and authorities. This move addresses concerns over the privacy of millions of American users and the potential access by the Chinese government to sensitive information. 

Prior to Bessent’s announcement, Trump shared the news on his social network Truth Social, claiming the deal would be “welcomed by young Americans.” He had previously set September 17 as the deadline for ByteDance to sell its U.S. branch, emphasizing the urgency of safeguarding national digital security. 

Secretary Bessent and U.S. Trade Representative Jamieson Greer highlighted the importance of the good relationship between Trump and Xi in facilitating negotiations. According to them, mutual respect between leaders helps expedite bilateral agreements. 

At the same time, negotiations over a possible trade tariff deal between United States and China will continue in a fifth round, expected within a month at a location yet to be determined.

Meanwhile, transferring control of TikTok represents a key step in regulating global digital platforms and protecting American citizens’ data from international risks.