US says 'framework' for TikTok ownership deal agreed with China

The US Treasury Department has announced a "framework" for a deal that would allow TikTok's US operations to be owned by American companies. This agreement comes after months of negotiations and tensions between the US and China over the popular social media platform. According to US Treasury Secretary Steven Mnuchin, the deal will address the Trump administration's national security concerns about TikTok, which is owned by the Chinese company ByteDance. The specifics of the agreement have not been disclosed, but it is expected to involve the creation of a new US-headquartered company that would own TikTok's American business. The announcement marks a significant development in the ongoing dispute over TikTok's future in the US. The deal still requires final approval from the US and Chinese governments, but if successful, it would pave the way for TikTok to continue operating in the United States under the ownership of American companies.