US and Chinese officials have agreed on a framework to transfer TikTok to US-controlled ownership, with final confirmation expected during a Friday call between President Donald Trump and Chinese leader Xi Jinping, reported Reuters.

The deal marks a rare breakthrough in prolonged negotiations between the world�� two largest economies, which have been trying to ease tensions from a wide-ranging trade war. TikTok has 170 million users in the US.

US Treasury Secretary Scott Bessent said the September 17 deadline for a potential disruption of TikTok in the US helped push Chinese negotiators to reach agreement. He spoke after meeting Chinese officials in Madrid.

Bessent said the deadline could be extended by 90 days to allow time to finalise the deal, but declined to share details. He added that the commercial terms would preserve cultural elements of TikTok important to Chinese negotiators.