Treasury Secretary Scott Bessent on Monday confirmed that the United States has reached a “framework” deal with Chinese negotiators on the social media app TikTok.
The confirmation comes after President Donald Trump hinted at the deal earlier Monday, ahead of the Wednesday deadline for the short-video app’s U.S. assets to be divested or shut down.
Bessent declined to go into the details of the deal but said Trump and Chinese President Xi Jinping will discuss and complete the agreement on Friday.
“We do have a framework for a deal with TikTok,” Bessent told reporters in Madrid. “We had very good discussions. We preferred to keep the discussions on TikTok. We will be holding trade negotiations in about a month again at a different location.”
U.S. Trade Rep. Jamieson Greer, who is also in Madrid for trade negotiations, suggested Trump could extend the deadline past Wednesday because the framework has been reached, but said he was not in favor of extending the deadline beyond that.
“We believe we have an agreement,” Greer said. “It’s just subject to the leaders’ approval. So, if you need to extend it by some period of time just to get it signed, et cetera, that’s one thing. But we’re not going to be in the business of having repetitive extensions. We have a deal.”
Trump has extended the deadline three times before.
Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.
