skip to contentAdvertisementTrump confirmed US and China reached a deal keeping TikTok in the Us with American investors set to control 80% of the app.By: Express Web Desk New Delhi,September 17, 2025 07:53 AM IST First published on: Sep 17, 2025 at 07:53 AM ISTJoinShare ShareWhatsapptwitterFacebookTrump strikes deal with China to keep TikTok online.US President Donald Trump on Tuesday confirmed that the United States and China have reached an agreement that would allow TikTok to continue operating in the US, potentially ending months of uncertainty over the app’s future.This new deal could save TikTok from going dark in the US, with American venture capital firms, private equity funds, and tech companies forming a new US-based company to run the app domestically, sources told CNN.The framework for the agreement was negotiated this week in Madrid between US and Chinese officials. It is very similar to a plan presented to President Trump in April, before his tariffs on China disrupted talks. The investors are expected to own about 80% of TikTok, with Chinese shareholders holding the remaining 20%. Companies like Oracle, Andreessen Horowitz, and Silver Lake are likely involved, according to CNN. According to sources familiar with the situation, a US majority board would oversee the company, and the Trump administration would appoint at least one member.The Wall Street Journal reported the Madrid discussions, but sources cautioned that the framework could change before Trump speaks to Chinese President Xi Jinping on Friday to finalise the deal.“Any details of the TikTok framework are pure speculation unless they are announced by this administration,” a senior White House official told CNN.Oracle’s chairman, Larry Ellison, has been widely linked to the deal. In 2020, Oracle started storing all of TikTok’s data for US users. Around the same time, the company almost bought TikTok’s US operations with the approval of Trump’s first administration.However, that purchase did not happen because the deal was stopped before it could be completed. Ellison last week briefly became the world’s richest person, dethroning Elon Musk. Originally, Trump wanted a 50-50 joint venture between ByteDance and US investors, but a law signed by former President Joe Biden limits China’s ownership of TikTok’s US operations to no more than 20%.To prevent TikTok from going offline while negotiations continue, Trump signed an executive order on Tuesday extending the TikTok ban in the US by three months. The previous extension was set to expire on Wednesday.Treasury Secretary Scott Bessent told NBC that China agreed to the deal after Trump threatened to ban TikTok in the country. “What turned the tide was a call that Ambassador (Jamieson) Greer and I had with President Trump the night after the first day of negotiations, and President Trump made it clear that he would be willing to let TikTok go dark,” Bessent told NBC on Tuesday.Most Read1Israel-Hamas War Live Updates: ‘Israeli military in control of widespread areas in Gaza City,’ as per reports2Trump to file defamation suit against New York Times for $15 billion, calls it ‘virtual mouthpiece’ for Democratic party3Netanyahu says Israel is economically isolated, blames Qatar, China for ‘partial blockade’4Israel begins ground offensive to occupy Gaza City amid escalation in bombardment5‘If you come illegally…’: US warns ‘illegal aliens’ after murder of Indian national in Texas6Kim Jong Un bans words like ‘hamburgers’, ‘ice-cream’ in North Korea. Here’s whyTalks had stalled after the US imposed “Liberation Day” tariffs on Chinese goods, but resumed once trade tensions eased. Bessent said both sides reached agreements that protect US interests while allowing TikTok to continue operating.“We were not willing to give up national security in favour of the deal,” Bessent said. “So we were able to reach a series of agreements, mostly for things we will not be doing in the future that will have no impact on national security.”Trump has repeatedly delayed enforcing shutdown deadlines, partly because of the app’s popularity and political influence. His personal TikTok account has 15 million followers, and the White House recently launched an official account on the platform.(With inputs from CNN)AdvertisementAdvertisementYou May Like