Will TikTok go dark Wednesday? Trump claims deal with China avoids shutdown.

The fate of TikTok is once again in the spotlight as the Trump administration touts a potential deal that could lead to the app being sold to American owners, thereby averting a nationwide ban deemed necessary for national security. Treasury Secretary Scott Bessent revealed on Monday that a 'framework' for this transaction has been established between the US and China, with Trump slated to finalize the agreement during a call with Chinese President Xi Jinping this Friday. Bessent emphasized that this framework indicates a shift towards US-controlled ownership of TikTok. However, with a looming deadline, the app faced the possibility of going dark as soon as Wednesday. This urgency comes after Trump extended the sale deadline three times amid ongoing negotiations that have kept tensions high with China. For China, the approval of TikTok's sale seems to serve as a valuable bargaining chip in trade discussions with the Trump administration. However, there appears to be little urgency from China's side to facilitate this sale. Ahead of meetings in Madrid, Bessent commented on China’s aggressive stance, noting that they have demanded significant concessions from the US regarding trade and technology in exchange for agreeing to the divestment of the social media platform. Given China's firm position, experts suggest that the likelihood of reaching a deal this week remains slim. Bessent reiterated that the US is unwilling to compromise national security for a social media application. As the two nations prepare for an important discussion, it is clear that the road to a finalized sale remains fraught with challenges and uncertainty.