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In a dramatic breakthrough amid escalating trade tensions, the United States and China have hammered out a preliminary “framework” agreement for the sale of TikTok’s U.S. operations, President Donald Trump announced today.
The deal, forged during high-stakes talks in Madrid, is set for finalization when Trump meets Chinese President Xi Jinping on Friday, averting what the president colorfully described as a “long national nightmare” that could have deprived 170 million Americans of their daily dose of viral “brainrot” videos.
The agreement comes just one day before a looming deadline imposed by the Trump administration, which required TikTok’s Chinese parent company, ByteDance, to divest its U.S. assets or face a nationwide shutdown over national security fears. Sources close to the negotiations indicate the deadline—already extended three times—will likely be pushed back again to allow for final details to be resolved.
The Buyer: Oracle’s Larry Ellison in the Spotlight
Treasury Secretary Scott Bessent declined to disclose full details during a press briefing, including whether TikTok’s proprietary algorithm would be included in the sale.However, CNN reports that the consortium poised to acquire the platform is expected to be spearheaded by Larry Ellison, the 81-year-old co-founder of Oracle. Trump himself endorsed Ellison for the role back in January, praising the tech mogul’s experience as ideal for steering TikTok’s American arm away from Beijing’s influence.
If finalized, the deal would mark a significant win for the administration, preserving access to the app that has propelled internet sensations like “The Rizzler” and Addison Rae while addressing concerns over data privacy and foreign surveillance.
Eyes on Broader Trade Talks: Tariffs, Chips, and Soybeans in the Crosshairs
With the TikTok saga seemingly resolved, attention now shifts to the broader U.S.-China trade war. A temporary pause on Trump’s proposed steep tariffs on Chinese imports is slated to expire in November, setting the stage for intense negotiations when delegations reconvene next month.Key flashpoints include:
Microchips: China initiated two probes into the U.S. semiconductor industry on Saturday, retaliating against the U.S. addition of 23 Chinese firms to an “entity list” for alleged national security violations.
Rare Earths: Beijing has curtailed exports of these critical minerals—essential for electric vehicle batteries and countless other products—to the U.S., exacerbating supply chain strains.
Agriculture: China’s halt on U.S. soybean purchases since February threatens widespread bankruptcies and farm foreclosures, hitting American heartland producers hard.
Summit Speculation: Beijing or Busan?
China has issued an invitation for Trump to visit Beijing for a summit, but the Financial Times suggests more substantive trade discussions between Trump and Xi are likely to unfold at the Asia-Pacific Economic Cooperation (APEC) forum in South Korea next month. Analysts view the Madrid framework as a confidence-building measure that could pave the way for de-escalation, though skeptics warn that unresolved issues like intellectual property theft and market access remain formidable hurdles.
As the world watches, this TikTok truce underscores the intricate dance of diplomacy and deal-making defining U.S.-China relations. For now, American scrollers can breathe easy— their endless feeds of dance challenges and lip-syncs appear safe.
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