The U.S. may finally put concerns over TikTok to rest, as President Trump said a deal was reached during the latest U.S.-China trade talks.

Donald Trump wrote in a Truth Social post on Monday that negotiations with China were progressing “very well” and that an agreement had been struck “on a ‘certain’ company,” widely interpreted to mean TikTok.

“The big Trade Meeting in Europe between The United States of America and China has gone VERY WELL!” the president wrote. “It will be concluding shortly. A deal was also reached on a ‘certain’ company that young people in our Country very much wanted to save. They will be very happy! I will be speaking to President Xi on Friday. The relationship remains a very strong one!!!”

TikTok faces a September 17 deadline to either divest its U.S. business or shut down operations in the country. With trade talks showing progress, Trump is expected to extend the deadline again, marking what would be the fourth such extension since his return to office in January. The original congressional deadline was in April, later pushed to May, June, and now potentially beyond September.

Treasury Secretary Scott Bessent said Monday that the two sides already have a “framework” deal in place for TikTok. “It’s between two private parties, but the commercial terms have been agreed upon,” he said from Madrid.

Back in June, Trump said a group of “very wealthy people” were interested in buying TikTok. He signaled openness to potential bids from Oracle Chairman Larry Ellison, Tesla CEO Elon Musk, and other buyers. Oracle shares rose more than 3% after the latest news.

The U.S. and China are holding a second phase of trade talks in Spain as part of efforts to ease tensions between the world’s two largest economies. Earlier in the day, China said Nvidia had violated the country’s anti-monopoly law following a preliminary investigation and confirmed that further inquiries into the U.S. chipmaker are underway.

Despite Trump’s optimistic comments about a potential breakthrough, current tariffs remain in place, and restrictions on advanced AI GPUs are expected to continue. Investors, meanwhile, are looking for more concrete signs of progress.