China, Trump and TikTok
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Treasury Secretary Scott Bessent announced on Sunday that the Chinese government has agreed to a deal to sell TikTok to new ownership. “We reached a final deal on TikTok. We reached one in Madrid, and I believe that as of today,
President Donald Trump and Chinese President Xi Jinping could "consummate" the TikTok deal announced last month when they meet on Thursday, Treasury Secretary Scott Bessent said.
The US and China have finalized a deal to transfer the American version of TikTok to new owners, Treasury Secretary Scott Bessent revealed on Sunday.
This comes about a month after President Donald Trump signed an executive order declaring that the new TikTok deal met the requirements of the 2024 law that banned TikTok from operating in the U.S. At the time, Vice President JD Vance said the deal values the U.S. TikTok assets at $14 billion, as Deadline reported.
Well, according to U.S. Treasury Secretary Scott Bessent, it’s still all good, and TikTok will be sold into U.S. ownership well ahead of the latest extended deadline for the enforcement of the Senate-approved Protecting Americans from Foreign Adversary Controlled Applications Act.
Treasury Secretary Scott Bessent said on “Face the Nation” on Sunday that China and the United States had reached “a final deal on TikTok,” but offered few details.
Treasury Secretary Scott Bessent said Sunday on CBS News' Face the Nation that China and the United States “ironed out” the details of the TikTok deal, and that an official announcement is expected when the two leaders meet on Thursday. Newsweek has filled out an online press form to contact TikTok for comment on Sunday.
It’s one of the biggest diplomatic meetings of the year — the Trump-Xi talks will be held tomorrow (October 30) in South Korea on the sidelines of the Apec summit. The timing of this face-to-face is significant;
"All the details are ironed out, and that will be for the two leaders to consummate that transaction on Thursday in Korea," said US Treasury Secretary Scott Bessent.
U.S. Treasury Secretary Scott Bessent announced that the U.S. and China have finalized a deal transferring TikTok’s U.S. operations to American investors, easing trade tensions.
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