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US, China reach ‘framework’ deal for TikTok
The "framework" deal with China is "between two private parties, but the commercial terms have been agreed upon," CNBC quoted Bessent as saying on the sidelines of a meeting between the two countries in Madrid on Monday.
The U.S. has reached a “framework” deal with China for social media platform TikTok, CNBC reported, citing Treasury Secretary Scott Bessent. “A deal was also reached on a “certain” company that young people in our Country very much wanted to save,” Trump said in the post, adding that he will speak to China’s President Xi Jinping on Friday. Earlier on Monday, Reuters reported that the U.S. was ready to ban the social media app if China did not withdraw its demands for a reduction in tariffs and loosening limits around its technology.
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