A framework deal on TikTok has been reached between the US and China Updated 2 mins ago A framework deal has been reached between China and the U.S. for the ownership of TikTok. U.S. Treasury Secretary Scott Bessent said Monday after trade talks in Madrid that U.S. President Donald Trump and Chinese Premier Xi Jinping would speak Friday to possibly finalize the deal. Bessent says the objective of the deal would be to switch to U.S. ownership. China’s official Xinhua news agency reports China’s international trade representative says the sides have reached “basic framework consensus." During Joe Biden’s presidency, Congress and the White House used national security grounds to approve a U.S. ban on TikTok unless its Chinese parent company sold its controlling stake.

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