Remember That TikTok Ban? A Deal This Week Could Finally Bring Closure

A deal with China that the Donald Trump administration is working on to determine TikTok’s fate could be finalized by the end of this week, according to reports citing Treasury Secretary Scott Bessent.

President Trump has plans to meet on Friday with China’s President Xi Jinping, and the two are expected to discuss the fate of the Chinese-owned social media platform. A deadline of Wednesday, Sept. 17, has been looming for a resolution on the matter, but that may pass before there’s definitive news on whether ownership of TikTok will transfer to a US-based company or the platform could shut down temporarily in the United States, as it has before, in accordance with a federal law passed last year. 

According to Bessent, the two countries have reached a preliminary deal, and “commercial terms have been agreed upon.”

Neither TikTok nor the Treasury Department responded immediately to requests for comment.

An agreement over TIkTok has gotten complicated by ongoing trade warring between the US and China as well as a new ruling against US-based Nvidia. China claims Nvidia has violated anti-monopoly laws in that country.