Jamieson Greer, a US trade representative, said on Monday that Washington and Beijing have struck a framework agreement on transferring TikTok to US-controlled ownership. Speaking after emerging from negotiations with Chinese officials, Scott Bessent said the deal was coming but declined to reveal the commercial terms. “We have a framework for a TikTok deal,” the treasury secretary told reporters after coming out of high-level talks in Madrid. ADVERTISEMENTThe TikTok ownership saga stretches back to 2020, when Trump first ordered ByteDance to divest TikTok or face a shutdown. Oracle has remained TikTok’s US cloud provider since 2022 in a deal aimed at addressing security concerns.