The long-running dispute over TikTok’s ownership in the United States may soon reach its conclusion. U.S. President Donald Trump and Chinese President Xi Jinping are expected to finalize a historic agreement this Friday, paving the way for TikTok to transition into American ownership. According to U.S. Treasury Secretary Scott Bessent, commercial terms between the two sides have already been agreed upon following negotiations in Madrid, describing the arrangement as a deal between “two private parties” that is now awaiting political approval.
The urgency behind this agreement stems from the looming deadline of September 17, when ByteDance, TikTok’s parent company, was required to divest its U.S. assets or face a complete shutdown of the platform in the country. Previous extensions granted by Trump earlier this year had pushed the timeline, but officials made clear that no further delays would be permitted. As a result, the outcome of this deal is seen as pivotal not only for TikTok’s future in the U.S. but also for the broader tech and trade relations between Washington and Beijing.
From the Chinese side, chief trade negotiator Li Chengang confirmed that a framework has been reached, while also warning that the U.S. must avoid creating unnecessary obstacles for Chinese firms. His comments highlight Beijing’s growing frustration over what it views as political interference in the global operations of its tech companies, a concern that has shaped the broader U.S.-China technology rivalry.
Among the top potential buyers of TikTok are several American powerhouses. Oracle, which already hosts TikTok’s U.S. user data on servers in Texas and conducts code audits for vulnerabilities, remains the leading candidate. The company’s co-founder, Larry Ellison, is a close ally of Trump, further strengthening Oracle’s chances of securing the deal. Other interested parties reportedly include Tesla’s Elon Musk, AI startup Perplexity, and Project Liberty, an internet rights advocacy initiative led by businessman Frank McCourt.
The push for TikTok’s sale began after the U.S. Congress passed legislation banning app store operators such as Apple and Google from distributing TikTok, citing national security concerns over the platform’s ties to the Chinese government. Critics argued that TikTok’s data collection practices could be leveraged for surveillance. Trump initially set a 75-day deadline for ByteDance to divest in January, later extending it in April and June. With negotiations now culminating, Friday’s scheduled call between Trump and Xi is expected to confirm the final terms.
Conclusion: The pending TikTok sale agreement represents a defining moment in the U.S.-China tech conflict. If finalized, it could not only secure TikTok’s presence in the U.S. but also set a precedent for how governments shape the global digital economy. With major players like Oracle, Tesla, and AI innovators in the mix, the outcome of this deal may reshape both the social media landscape and the future of cross-border technology governance.
