Trump confirms deal to transfer TikTok’s US operations to Americans
3 Min Read
The US president says a deal has been reached to transfer TikTok’s US assets to American investors, easing US-China tensions over ByteDance’s ownership.
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US President Donald Trump speaks with reporters before departing on Marine One from the South Lawn of the White House on September 16, 2025, in Washington (AP)
US President Donald Trump announced on Tuesday that the United States and China have reached a deal on TikTok, under which the platform’s American assets will be transferred to US investors, potentially ending a year-long dispute over the app’s future.
The agreement is expected to keep the popular short-video app, owned by China’s ByteDance, operating in the United States, where it has more than 170 million users.
The announcement followed bilateral talks held in Madrid on September 14 and 15, where Chinese Vice Premier He Lifeng met with US Treasury Secretary Scott Bessent and Trade Representative Jamison Greer. The Ministry described the discussions as "frank, in-depth, and constructive," building on consensus established during earlier leadership-level conversations.
Trump confirms agreement on TikTok sale
“We have a deal on TikTok ... We have a group of very big companies that want to buy it,” Trump said, without disclosing details. His remarks came one day before the September 17 deadline for TikTok to be sold or shut down under a 2024 law passed during the Biden administration.
Trump praised the breakthrough, calling it an “upgrade” for both Washington and Beijing, and said the deal would preserve “tens of billions of dollars in value.”
ByteDance to spin off TikTok’s US operations
Reports suggest the deal would spin off TikTok’s US operations into a new company majority-owned and controlled by American investors. According to CNBC, the transaction is expected to close within 30 to 45 days.
This framework reflects earlier Reuters reporting that ByteDance would cede direct control of TikTok’s American arm, while allowing existing Chinese investors to retain minority stakes.
Oracle, US investors expected to play key role
Oracle, which already manages TikTok’s US user data through its cloud services, is expected to remain central to the deal. Oracle shares rose more than 2% on Tuesday after the announcement.
In March, Trump said his administration had engaged with multiple interested buyers, including Microsoft, Amazon, billionaire Frank McCourt, and a consortium led by OnlyFans’ founder.
US Treasury Secretary Scott Bessent confirmed that most of the commercial terms had been finalized months earlier, with only “a few details left to be ironed out.”
National security safeguards at the center of the deal
The US government has long cited national security concerns over TikTok’s ownership, claiming that Beijing could access American user data or use the app to conduct influence operations.
“This deal wouldn’t be done without proper safeguards for US national security,” Bessent said. “It seems as though we were also able to meet the Chinese interest.”
ByteDance has repeatedly denied US allegations, stressing that TikTok’s content recommendation system and user data for American audiences are already stored domestically and overseen by US-based teams.
