“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.

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.

TikTok’s U.S. operations would be acquired by a consortium that includes Oracle under a deal that President Trump is set to discuss with Chinese President Xi Jinping.

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.

Technology company Oracle is among a consortium of firms that would enable TikTok to continue operations in the U.S. if a framework deal is finalized, sources say.

President Donald Trump told reporters on Tuesday, Sept. 16 that TikTok will keep running in the U.S. and a buyer of the app will be announced soon.

Oracle, Silver Lake and Andreessen Horowitz are among U.S investors who will hold an estimated 80% stake in a new U.S. company that will operate TikTok, with Chinese shareholders owning the remaining shares,