US President Donald Trump has suggested a deal has been reached regarding the future of TikTok, as he announces a call with China's President Xi Jinping.
"The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! It will be concluding shortly," Trump wrote on his social media platform Truth Social.
Trump said a deal has been reached with a "certain company" that young Americans "very much wanted to save."
The US President predicted that the young people would be "very happy" with the outcome and appeared to reference the social media app TikTok without naming it.
US Treasury Secretary Scott Bessent confirmed the "TikTok deal" during the fourth round of talks in Madrid.
"President Trump played a role in this, we had a call with him last night, we had specific guidance from him we shared it with our Chinese counterparts," Bessent said in Madrid on Monday.
"Without his leadership and the leverage he provides, we would not have been able to include the deal today."
Talks stretch on
Trump administration has withheld the name of the US-backed buyer, though it is widely believed to be a group led by Oracle executive chairman Larry Ellison, as per US media reports.
US-China talks, continuing through Wednesday, operate under a tariff truce on Chinese imports extended until November.
A 10% reciprocal tariff remains in effect during the suspension.
TikTok faces a countrywide ban in the US over national security concerns about potential data sharing with Beijing.
US Congress passed bipartisan legislation in 2024 requiring ByteDance, TikTok's Chinese parent company, to divest US operations by September 17 - Trump's third extension of the deadline.
The talks occur amid hopes for a potential meeting between Trump and Xi during next month's Asia-Pacific Economic Cooperation summit in South Korea.
Trump has previously reached trade deals with the UK, South Korea, Japan and the EU, among others, while continuing to hold talks with many others.
