A much-awaited deal over TikTok may be close, with US President Donald Trump and his Chinese counterpart Xi Jinping set to discuss terms on Friday. Top officials from both sides struck a "framework" agreement this week, which reports suggest could see TikTok's US operations sold to a group of American firms.

Xi call largely did not move relations one way or another. Read more at straitstimes.com. Read more at straitstimes.com.

The president told reporters Friday that China’s top leader, Xi Jinping, had approved a deal for TikTok. But he also suggested the agreement was a work in progress.

Donald Trump claimed victory on a deal that would put TikTok in the hands of his allies after a call with Xi Jinping. But details on the agreement—and Beijing’s buy-in—remain murky.

"We have a framework for a TikTok deal," Treasury Secretary Scott Bessent said after talks with Chinese officials in Spain.

US President Donald Trump said he would meet Chinese President Xi Jinping on the sidelines of the upcoming Asia-Pacific Economic Cooperation summit and hailed progress toward finalizing a deal

While the US and China are reportedly close, the two have yet to reach an agreement regarding the future of TikTok.

The news on a potential TikTok deal came from U.S. Treasury Secretary Scott Bessent, but the U.S. and China will speak further on Friday.