US President Donald Trump announced on Monday that the US and China have reached a trade deal over social media platform TikTok and its parent company, ByteDance.

The president trumpeted the deal on a Truth Social post, stating:

The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! It will be concluding shortly. A deal was also reached on a “certain” company that young people in our Country very much wanted to save. They will be very happy! I will be speaking to President Xi on Friday.

US trade representative Jamison Greer reportedly stated that part of the potential framework is to switch the app to US ownership, though a buyer has not been announced. In order to finalize the deal, Trump may seek an additional 90-day delay on the TikTo

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