OFFICIALS HAVE ANNOUNCED THAT A DEAL HAS BEEN REACHED BETWEEN THE TRUMP ADMINISTRATION AND CHINA TO KEEP TIKTOK OPERATIONAL IN THE UNITED STATES.

US TREASURY SECRETARY SCOTT BESSENT SAID THAT A FRAMEWORK AGREEMENT HAS BEEN REACHED, AND TRUMP WILL SPEAK WITH CHINESE LEADER XI JINPING ON FRIDAY TO FINALIZE THE DEAL.

SOUNDBITE (English) Scott Bessent, US Treasury Secretary:

"The framework is for it to switch to US-controlled ownership, but again, I'm not going to get ahead of the leader's call on Friday. We have a framework. They'll have to confirm the deal."

U.S. OFFICIALS HAVE EXPRESSED CONCERNS ABOUT THE COMPANY’S OWNERSHIP, POINTING TO LAWS IN CHINA THAT REQUIRE CHINESE COMPANIES TO HAND OVER DATA REQUESTED BY THE GOVERNMENT.

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, BYTEDANCE, SOLD ITS CONTROLLING STAKE.

TRUMP HAS REPEATEDLY EXTENDED THE DEADLINE FOR SHUTTING DOWN TIKTOK.

THE CURRENT EXTENSION EXPIRES ON SEPT. 17, JUST TWO DAYS BEFORE TRUMP AND XI ARE SCHEDULED TO DISCUSS THE FINAL DETAILS.