U.S. Treasury Secretary Scott Bessent announced that Washington and Beijing have reached a “framework for a TikTok deal,” ahead of a U.S. deadline that could ban the popular app.

Details about the agreement remain sparse, particularly about control of TikTok’s algorithm, which determines user content; Bessent stated commercial terms have been agreed upon between private parties but declined further specifics.

The big picture: The deal is designed to be fair to Chinese interests while fully respecting U.S. national security concerns, affirming that national security “comes first.” • Bessent made these remarks from Madrid amidst ongoing trade talks with a Chinese delegation; China also announced an antitrust violation ruling against Nvidia during this period. • Chinese Vice Commerce Mi

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