The United States has reached a framework agreement with China regarding the social media platform TikTok, according to US Treasury Secretary Scott Bessent.
"This is between two private parties, but the commercial terms have been agreed upon," Bessent said on the sidelines of a meeting between the two countries in Madrid, as reported by Tech Crunch.
The news comes after US President Donald Trump hinted on his social media platform Truth Social that a deal for the short-form video app had been reached.
Trump told reporters that the deal had been finalized and that TikTok's buyer would be announced soon.
“A deal has also been reached with a 'certain company' that the young people of our country are desperate to save,” Trump said.
