The Trump administration is close to a deal with China on what to do about TikTok , Treasury Secretary Scott Bessent said, amid another pending deadline for the parent company ByteDance to divest the popular app in the U.S. or face a ban.

“We have a framework for a TikTok deal,” he told reporters on Monday, adding that President Donald Trump and Chinese President Xi Jinping will “speak on Friday to complete the deal.”

Earlier, Trump posted on Truth Social, “A deal was also reached on a ‘certain’ company that young people in our Country very much wanted to save. They will be very happy! I will be speaking to President Xi on Friday. The relationship remains a very strong one!!! President DJT”

Last year, Congress passed a law that requires that ByteDance divest TikTok’s U.S. oper

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