A potential deal over TikTok's US operations is nearing, with US President Donald Trump and Chinese President Xi Jinping set to discuss terms. This agreement could see TikTok's US business sold to a consortium of American firms, representing a potential "rare breakthrough" in US-China trade negotiations.

• The core of the dispute is TikTok's proprietary algorithm, which China's ByteDance is reportedly willing to license, but not outright transfer, to a US company.
• The deal could involve American firms including Oracle, Andreessen Horowitz, and Silver Lake.
• US Treasury Secretary Scott Bessent, leading the US negotiating team, stated the user experience would remain the same, albeit with "Chinese characteristics."
• While the deal is seen as a "win-win" by Chinese state media, there are concerns among US lawmakers regarding potential continued Chinese government influence and control.
• ByteDance's global revenue in 2024 is estimated at $39 billion, with TikTok contributing $30 billion.