US Treasury Secretary says TikTok agreement to be sealed soon
(MENAFN) US Treasury Secretary Scott Bessent said Sunday that a TikTok agreement is expected to be finalized during a meeting between US President Donald Trump and Chinese President Xi Jinping later this week.
"We reached a final deal on TikTok. We reached one in Madrid, and I believe that as of today, all the details are ironed out, and that will be for the two leaders to consummate that transaction on Thursday in (South) Korea," Bessent said in an interview in a political show.
On the specifics of the agreement, Bessent noted, "I’m not part of the commercial side of the transaction." He added, "My remit was to get the Chinese to agree to approve the transaction, and I believe we successfully accomplished that over the past two days."
Chinese and US officials reconvened on Sunday for a second day of trade talks in Malaysia, as Trump began a three-nation Asia tour. The US president is scheduled to meet Xi on October 30 on the sidelines of the Asia-Pacific Economic Cooperation (APEC) Summit in South Korea.
Last month, Trump signed an executive order allowing TikTok to continue operating in the US under a new corporate structure with American investors, although the full details of the arrangement have not been publicly disclosed.
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