Quick overview

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The U.S. may finally address concerns surrounding TikTok. In a post on Truth Social, President Trump claimed that a deal was reached during the recent U.S.-China trade talks.

He stated that discussions with China were progressing well and that an agreement had been reached regarding a specific company, widely understood to refer to TikTok. Trump wrote, “The United States and China’s major trade meeting in Europe has gone very well and is nearing its conclusion. Additionally, an agreement has been reached regarding a certain company that our nation’s youth are eager to preserve. They will be overjoyed! I will meet with President Xi on Friday. The partnership remains very strong!”

TikTok has until September 17 to decide whether to sell its U.S. operations or shut them down entirely. Trump is expected to extend the deadline once more, marking the fourth extension since his return, as trade negotiations continue to show progress.

Treasury Secretary Scott Bessent stated that a “framework” agreement for TikTok already exists between the two parties.

He remarked, “The commercial terms have been agreed upon, but it’s between two private parties.” Trump mentioned in June that TikTok was being considered for purchase by a group of “very wealthy people.” He indicated that potential bidders could include Elon Musk, the CEO of Tesla, Larry Ellison, the chairman of Oracle, and others. Following this announcement, Oracle’s stock rose by over 3%.

A second round of trade negotiations between the U.S. and China is currently underway in Spain, aimed at easing tensions between the two largest economies in the world. Earlier today, China accused Nvidia of violating its anti-monopoly laws following an initial investigation and confirmed that further inquiries into chip manufacturers are ongoing.

Trump has expressed optimism about the possibility of a breakthrough; however, restrictions on advanced AI GPUs are expected to remain, and current tariffs will still be in effect.