There is a deal in place between the Trump administration and China to keep TikTok operational in the United States.

The Trump administration made the announcement Monday, after what has been years in the making.

Trump will meet with Chinese leader Xi Jinping on Friday to finalize the deal, according to US Treasury Secretary Scott Bessent.

“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 from Madrid on Monday, per CNN . “Without his leadership and the leverage he provides, we would not have been able to include the deal today.”

The US-backed buyer was not named, but the group is widely expected to be led by Oracle executive chairman Larry Ellison, according to CNN .

See Full Page