President Donald Trump said on Tuesday that the US and China have a deal on TikTok, under which the ByteDance-owned short video app's American assets will be transferred to US owners to keep it operating in the country, potentially resolving a saga that has lingered for nearly a year.

A deal on the popular social media app, which counts 170 million US users, stands as a breakthrough in months-long talks between the two biggest economies as they seek to defuse a wide-ranging trade war, which has unnerved global markets.

"We have a deal on TikTok ... We have a group of very big companies that want to buy it," Trump said, without providing further details. The announcement comes a day before a September 17 deadline to sell or shut down the app.

He lauded the trade deal, calling it an upgra

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