US, China attain deal to permit TikTok sale, Bessent says
WASHINGTON — The US and China have finalized a deal to switch the American version of TikTok to new house owners, Treasury Secretary Scott Bessent revealed on Sunday.
President Trump and Chinese chief Xi Jinping will formally “consummate” that deal after they meet in Busan, South Korea on Thursday — marking the first time the two have seen each other in particular person since 2019.
“We reached a final deal on TikTok,” Bessent told CBS News’ “Face the Nation” on Sunday. “We reached one in Madrid, and I imagine that as of today, all the particulars are ironed out, and that will probably be for the two leaders to consummate that transaction on Thursday in Korea.
Treasury Secretary Scott Bessent on CBS News’ Face the Nation with
Margaret Brennan on October 26, 2025. CBS News
Chinese President Xi Jinping speaks during a assembly on Oct. 14, 2025. AP
The US and China have finalized a deal to switch the majority possession of TikTok. FellowNeko – stock.adobe.com
Trump had signed an govt order last month to pave the method for the TikTok switch deal, however the two sides still had a few particulars to determine out at the time.
Bessent declined to supply extra particulars about the finalized deal, noting that he wasn’t “part of the commercial side of the transaction.”
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