President Donald Trump said Tuesday his administration and China have "reached a deal" on TikTok over the ownership of the popular social video platform that would keep it running in the United States.

"I've reached a deal with China," Trump told reporters on the South Lawn of the White House as he left for a trip to the United Kingdom.

Trump said he would speak to Chinese President Xi Jinping on Friday "to confirm everything up."

"We made a very good trade deal and I hope good for both countries, but a very different deal than they've made in the past," the president said.

The framework deal on the ownership of popular social video platform comes after weekend trade talks between the world's two largest economies in Spain.