(This story has been corrected to change Scott Bessent's title to Treasury Secretary, from Trade Secretary, in the headline)

MADRID (Reuters) - U.S. Treasury Secretary Scott Bessent said on Monday that a framework for a deal on TikTok had been reached in trade talks with the Chinese in Madrid, that would pave the way for a switch to US ownership.

Bessent said further details would wait to be determined in a meeting between U.S. President Donald Trump and Chinese Premier Xi Jinping when they speak on Friday.

(Reporting by David Lawder, Pietro Lombardi, Writing by Inti Landauro)