Trump said a meeting between a U.S. team led by Treasury Secretary Scott Bessent and his Chinese counterparts had been a success

The Trump administration has finalized an agreement with China to allow TikTok to continue operating in the United States, wrapping up a long-running dispute that first began during Donald Trump’s initial term as president.

Treasury Secretary Scott Bessent confirmed Monday that a framework had been reached and said Trump is scheduled to meet Chinese leader Xi Jinping on Friday to complete the deal.

“President Trump played a role in this — we spoke with him last night, followed his guidance, and shared it with our Chinese counterparts,” Bessent said in Madrid, noting that Trump’s “leadership and leverage” were decisive in reaching the outcome.

Talks were held in Spain this week as U.S. and Chinese officials discussed trade and security concerns, with TikTok emerging as a central sticking point. “We were very focused on TikTok, ensuring the agreement is fair to China while fully protecting U.S. national security,” Bessent said.

The deal comes after legislation signed during Joe Biden’s presidency sought to ban TikTok unless its parent company divested from U.S. operations. TikTok briefly went offline in January before Trump, on his first day back in office, issued an executive order delaying enforcement. The deadline was pushed back several times before this resolution.

Trump, who once pushed to ban the platform outright, shifted course ahead of the 2024 election, viewing TikTok as a powerful political tool that helped boost his campaign reach.