Leaders to Seal the Pact
The unfinished deal sets the stage for a dramatic finale later this week. President Trump and Chinese President Xi Jinping are expected to meet Friday to finalize the terms.
“We were very focused on TikTok,” Bessent said. “This is about balancing national security with fairness, and we’ve achieved that.”
The Buyers and the Bidders
Over the past year, TikTok’s future in the U.S. has been the subject of frenzied speculation. In January, Project Liberty floated an acquisition proposal just ten days ahead of the original deadline, though details remained under wraps pending ByteDance’s review.
By July, however, one major suitor backed away. Private equity giant Blackstone exited a consortium that included Susquehanna International Group and General Atlantic—both current ByteDance investors. That group had been circling an 80% stake in TikTok’s U.S. business, leaving ByteDance with a minority slice.
Silence From TikTok
Despite the swirl of negotiations and looming deadlines, TikTok itself has remained largely quiet. A spokesperson for the company did not immediately respond to a request for comment on Monday.
For now, the fate of one of the world’s most influential apps hinges on a fragile framework—and the ability of Washington and Beijing to turn it into a lasting deal before the clock runs out.
