Following weekend trade talks between the U.S. and China, U.S. Treasury Secretary Scott Bessent said a framework deal has been reached for ownership of TikTok, the Associated Press reports.
President Donald Trump and Chinese Premier Xi Jinping are set to speak on Friday to finalize the deal, Bessent said, adding that the objective of the framework deal would be to switch to U.S. ownership.
Chinese officials have yet to confirm his statement.
The recent meeting marks the fourth round of trade talks between U.S. and Chinese officials since Trump implemented tariffs on Chinese goods in April.
