Summary
The U.S. and China have reached a basic agreement about TikTok's ownership, with plans to shift it to U.S. ownership. U.S. Treasury Secretary Scott Bessent announced this after trade talks in Spain, and further discussions between President Trump and Premier Xi are expected.
Key Facts
- A framework deal regarding TikTok's ownership has been made between the U.S. and China.
- The focus of the deal is to change TikTok to U.S. ownership.
- U.S. Treasury Secretary Scott Bessent shared this news after trade talks in Spain.
- The talks happened between the U.S. and China, the world's two largest economies.
- U.S. President Trump and Chinese Premier Xi Jinping are set to discuss the deal further on Friday.
- The announcement follows previous delays on a TikTok ban in the U.S.
