(NewsNation) — President Donald Trump and his Chinese counterpart, Xi Jinping, are expected to talk about the future of social media app TikTok and trade in a high-stakes call on Friday.

The phone call is expected to solidify a framework deal that would separate the app from ByteDance, its Chinese owner, avoiding a U.S. ban after months of extensions from the Trump administration.

Following a U.S.-China trade meeting in Madrid, Treasury Secretary Scott Bessent announced a deal outline had been reached but did not specify details.

"We are not going to talk about the commercial terms of the deal,” Bessent said. “It’s between two private parties. But the commercial terms have been agreed upon.”

That same day, Trump told reporters outside the White House he and Xi would "confirm everything

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