US and China agree deal over TikTok ownership

Two years after the US congress threatened to ban the Chinese-owned social media platform TikTok, Washington and Beijing have agreed a deal.  

US Treasury Secretary Scott Bessent made the announcement after trade talks with Beijing in Spain. 

Bessent said US President Donald Trump and Chinese Premier Xi Jinping would speak on Friday to possibly finalize the deal. He said the objective was to switch to US ownership from China’s…