TikTok Truce: Trade Tensions Tamed as U.S. and China Reach Final Deal

The United States and China have finally reached a definitive agreement regarding TikTok, U.S. Treasury Secretary Scott Besant announced. Speaking on CBS’s Face the Nation on Sunday, Besant said, “We reached a structural agreement in Madrid last month. Today, all issues have been resolved, and on Thursday, the top leaders of both nations will sign the accord in South Korea.” TechCrunch reported the development.

According to Besant, his role was to ensure China’s consent to the transaction, which was accomplished over the past two days. U.S. President Donald Trump has already issued an executive order directing the implementation of the deal.

Under the terms of the agreement, TikTok’s U.S. operations—including its recommendation algorithm, source code, and content moderation—will come under the control of a newly formed management board. Oversight of data and security will be handled by Oracle, led by Trump ally Larry Ellison. In addition, Fox Corporation, Andreessen Horowitz, and Silver Lake Management will jointly invest in the venture.

Speaking from Kuala Lumpur, Malaysia, Besant added that the two nations also reached a preliminary understanding in trade discussions concerning tariffs and the export of rare earth minerals.