Bessent: TikTok deal ‘framework’ reached with China, Trump and Xi will finalize it Friday

The U.S. and China have reached a ‘framework’ deal for social media platform TikTok, Treasury Secretary Scott Bessent said Monday. “It’s between two private parties, but the commercial terms have been agreed upon,” he said from U.S.-China talks in Madrid.

Both President Donald Trump and Chinese President Xi Jinping will meet Friday to discuss the terms. Trump also said in a Truth Social post Monday that a deal was reached “on a ‘certain’ company that young people in our Country very much wanted to save.”

Bessent indicated that the framework could pivot the platform to U.S.-controlled ownership. TikTok did not immediately respond to a request for comment.

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