“The Chinese government will, according to law, examine and approve relevant matters involving TikTok, such as the export of technology as well as the licensing of intellectual property,” Wang said, adding that Washington and Beijing agreed that Bytedance would entrust a partner with TikTok U.S.’s user data and content security.

From Trump’s first ban attempt to a 2025 blackout, TikTok’s U.S. battle with Washington, data privacy fears, and a last-minute deal shows how close it came to collapse.

On TikTok, the president keeps effectively saying that he’s decided he’s not going to enforce federal law in this area for the next few months.

The strange saga of the TikTok ban may soon be coming to an end. “We have a deal on TikTok,” the president said on Tuesday. The Wall Street Journal has a few more details on the proposal:

The Republican chair of the House Select Committee on the Chinese Communist Party on Wednesday said he is concerned by reports a U.S.-China framework deal to shift app TikTok's American assets to U.S.

The final terms of the deal, which is expected to close in the next 45 days, could change, but agreement on the app’s algorithm has reportedly been reached.

A framework deal between the United States and China could pave the way for TikTok to remain in American app stores—though possibly in a different form.

The latest extension follows news earlier this week that the U.S. and China reached a "framework" deal for TikTok. CNBC's David Faber reported yesterday that TikTok's U.S. arm will be owned by a consortium of investors including Oracle and Silver Lake. The deal is expected to close in 30 to 45 days.