TikTok in Transition: A New Era of U.S. Ownership

The framework agreement to shift TikTok's ownership to a U.S.-controlled entity has been hailed as a 'win-win' by China. The deal, confirmed by a scheduled call between President Trump and President Xi Jinping, may help ease tensions between the two economic giants.

With 170 million U.S. users, TikTok is at the heart of discussions, aiming to extend the cooperation between the U.S. and China. The initial deal had been shelved after tariff announcements but is back on track as both countries emphasize mutual respect and cooperation.

In Madrid, U.S. Treasury Secretary Scott Bessent hinted at the possibility of extending the deadline to complete the deal, crucial for ensuring TikTok's continued operation in the U.S.