The announcement comes ahead of a high-level meeting scheduled for Friday between Trump and Chinese President Xi Jinping, where both leaders are expected to finalize the agreement and publicly outline its terms.

“This is a done deal in principle,” Trump told reporters Monday. “We’re just making sure the final details are right, especially when it comes to data security and American oversight.”

A Deal Amid Escalating U.S.–China Tensions

The framework deal follows months of back and forth negotiations amid broader U.S.–China tensions over technology, trade, and national security. Washington has long expressed concerns that TikTok, owned by Chinese tech giant ByteDance, could be used to collect sensitive user data or influence public opinion in the U.S.

While details of the agreement remain under wraps, sources familiar with the negotiations say it includes:

• Enhanced safeguards for U.S. user data

• Potential American oversight or joint ownership of TikTok’s U.S. operations

• Greater algorithm transparency

• A phased timeline for compliance implementation

The deal also reportedly allows TikTok to continue operating under U.S. jurisdiction, possibly through a restructured American subsidiary with government-approved board members.

What Comes Next

TikTok, which boasts more than 150 million U.S. users, will continue operating without disruption through at least December 16. The extension provides room for final legal reviews, security certifications, and operational restructuring if required.

The White House has stated that no further extensions will be granted beyond the current deadline unless “substantial compliance” is demonstrated.

This announcement comes shortly after both sides agreed to extend a temporary pause on tariffs for an additional 90 days, avoiding the implementation of steep duties on each other’s goods.

Bessent said Chinese President Xi Jinping had invited Trump to a meeting, but one had not been scheduled. “There’s no date,” Bessent said. “The president hasn’t accepted yet.”

Trump stated earlier this month that the U.S. and China were “getting very close to a trade agreement” and that he would meet Xi before the end of the year “if a deal was struck.”

Bessent also noted that the U.S. would need to see “months, if not quarters, if not a year” of progress on reducing fentanyl flows before considering any tariff reductions on Chinese imports.

U.S. officials have accused China of failing to adequately control the export of precursor chemicals used in the production of fentanyl, a leading contributor to overdose deaths in the United States. China has pushed back against those claims, defending its efforts and accusing the U.S. of attempting to “blackmail” them over the issue.

In February, Trump imposed 20% tariffs on Chinese imports due to the fentanyl dispute. Those tariffs remain in effect, along with an additional 10% base tariff, despite a fragile trade pause reached between both countries in May.