Trump Administration Negotiating TikTok Ownership Transfer to US Entities

The Trump administration is working to finalize a deal that would transfer TikTok's ownership to US entities before a congressional deadline that could otherwise ban the platform. Treasury Secretary Scott Bessent confirmed that US and China officials have established a framework for the deal, with President Trump scheduled to discuss final terms with Chinese President Xi Jinping on Friday. The social media platform faces potential shutdown as early as Wednesday, though Trump has extended the deadline three times during ongoing negotiations.