The International Space Station (ISS) will stop operating in 2030 and be decommissioned in 2031 to end operations that began in 1998. Because it is a large object, it cannot be left to become space junk and the disposal process must be done to avoid damage to other objects orbiting the earth.
NASA has awarded a contract to SpaceX to build the United States Deorbit Vehicle (USDV) which will be the tug that pulls the ISS safely out of orbit. The ISS will then return to earth and crash at Point Nemo located in the Pacific Ocean. There is no issue of danger to the inhabitants of the earth because Point Nemo is located 2687 km from the populated area.
The specifications of this USDV tug are still not announced. Although it will be built by SpaceX, it will be fully owned by NASA which will also carry out its mission in 2031.
China has already built their own Tianhe space station with Russia starting construction of their space station in 2027. Meanwhile NASA will work with the private company Axiom Space for a space station orbiting the earth and The Gateway space station will be built between the earth and the moon to support the Mission Artemis.