Donald Trump and Xi Jinping will speak on Friday after their negotiators agreed a framework that will see TikTok transferred to American ownership. But the details of the deal remained unclear on Monday, even to treasury secretary Scott Bessent, who is leading the US team at the talks in Madrid.

"The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! It will be concluding shortly," Trump wrote on his social media platform Truth Social. Trump said a deal has been reached with a "certain company" that young Americans "very much wanted to save.