The U.S. and China agreed on a framework deal to allow TikTok to keep operating in the U.S. amid trade negotiations as the social media app faced being shut down as early as Wednesday without action.
“The framework for a switch to a U.S.-controlled ownership,” Bessent told reporters in Madrid following two days of negotiations with the Chinese delegation.
President Donald Trump is planning to talk with Chinese President Xi Jinping on Friday to finalize the deal. 
U.S. Trade Representative Jamieson Greer said that there may be a short extension of the Sept. 17 deadline, while Bessent added that “It would not have been extended without a framework.”
This is a developing story. Please check back for updates.
Reuters contributed to this report.
