A framework for a deal on TikTok had been reached in trade talks with China in Madrid, in a move that would pave the way for a switch to U.S. ownership, U.S. Treasury Secretary Scott Bessent said on Monday, Reuters’ David Lawder and Pietro Lombardi report. Further details will be determined in a meeting between U.S. President Donald Trump and Chinese Premier Xi Jinping when they speak on Friday, Bessent said. Publicly traded companies in the social media space include Meta Platforms (META), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).
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