The US and China struck a “framework” deal over TikTok, Treasury Secretary Scott Bessent said Monday in Madrid during trade talks between the countries’ top officials.
US President Donald Trump said that a deal was reached “on a ‘certain’ company that young people in our Country very much wanted to save.”
Bessent did not provide details, but said the agreement was between two “private parties.”
Trump and Chinese leader Xi Jinping are set to speak on Friday to approve the deal, which would cap years of political wrangling to push China to hand over at least part of TikTok’s US business to an American-backed owner.
AD