Chinese leader Xi Jinping and US President Donald Trump Getty Images

President Donald Trump and China’s leader Xi Jinping are set to finalize a deal Friday that would sell most of TikTok’s US assets to American investors . The deal, if reached, would conclude a yearslong effort that began during Trump’s first term and became a key factor in broader negotiations between the United States and China in recent months.

On Monday, US Treasury Secretary Scott Bessent and Li Chenggang, China’s vice minister of commerce, said that a framework TikTok sale agreement had been reached during negotiations held in Madrid between diplomats from both countries. The proposal would allow TikTok to remain operational in the United States. Former President Joe Biden signed a bipartisan bill passed by C

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