MADRID/WASHINGTON >> U.S. and Chinese officials said today they have reached a framework agreement to switch short-video app TikTok to U.S.-controlled ownership that will be confirmed in a Friday call between President Donald Trump and Chinese President Xi Jinping.

After a meeting with Chinese negotiators in Madrid, U.S. Treasury Secretary Scott Bessent said a Wednesday deadline that could have disrupted the popular social media app in the U.S. encouraged Chinese negotiators to reach a potential deal. He said that deadline could be extended by 90 days to allow the deal to be finalized, but declined to discuss specifics of the deal.

Bessent said when commercial terms of the deal are revealed, it will preserve cultural aspects of TikTok that Chinese negotiators care about.

“They’re intere

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