U.S. And China Reach TikTok Framework Deal Ahead Of Ban Deadline

U.S. and Chinese negotiators reached a framework deal on TikTok after two days of trade talks in Madrid, just before the app was set to be banned, according to The Wall Street Journal. The deal, expected to be confirmed by Trump and Xi Jinping during a Friday call, would transfer TikTok ownership to a consortium of investors. Treasury Secretary Scott Bessent said the commercial terms have been agreed, though details remain private. The agreement emerged as China escalated its antitrust investigation into Nvidia, giving Xi political cover at home. Beijing’s shift reflects efforts to secure a Trump visit to China, but major trade disputes on soybeans and fentanyl remain unresolved.