On September 16, US and Chinese officials announced a framework deal to keep TikTok running in the US. The agreement may transfer ownership to a US company, but details remain unclear. Both Chinese government approval and US Congress approval are required, raising uncertainty about the app’s future.

BulletsIn

• Framework deal announced after Madrid trade talks
• China agreed to shift TikTok US ownership to US firm
• No details on structure of ownership released
• ByteDance must seek Beijing’s approval for transfer
• US law requires divestment for TikTok to operate
• Congress approval needed, Republicans hold majority
• Trump extended TikTok ban deadline three times
• Debate over limits of Trump’s executive authority
• US lawmakers plan to review compliance with laws
• Final deal may mirror earlier April proposal