US, China reach framework deal on TikTok; Trump and Xi to speak on Friday

MADRID/WASHINGTON: US and Chinese officials said on Monday they have reached a framework agreement to switch short-video app TikTok to US-controlled ownership that will be confirmed in a Friday call between US President Donald Trump and Chinese President Xi Jinping. The potential deal on the popular social media app, which counts 170 million US users, was a rare breakthrough in the months-long talks between the world’s No. 1 and No. 2 economies that have sought to defuse a wide-ranging trade war that has unnerved global markets.

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