TikTok might not finalize its deal to sell its US operations for at least another month. Sources tell CNBC’s David Faber that the US and China might close on an agreement within the next 30 to 45 days, while Oracle will remain the app’s cloud partner, allowing it to continue routing US user data on American servers.
On Monday, Treasury Secretary Scott Bessent told reporters that the US and China have reached a “framework deal” for TikTok. He added that President Donald Trump would confirm the deal on Friday — two days after TikTok’s latest deadline to divest expires. Trump has already given TikTok three extensions to negotiate a deal, and it’s unclear whether he’ll grant TikTok another while the company finalizes an agreement.
TikTok’s future in the US became shrouded in uncertainty afte