Scott Bessent Confirms TikTok Deal Nears Finalization
(MENAFN) US Treasury Secretary Scott Bessent announced on Sunday that an agreement regarding TikTok is expected to be finalized during an upcoming meeting this week between US President Donald Trump and Chinese President Xi Jinping.
Bessent explained, "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."
He shared these remarks during an interview on the program Face the Nation with Margaret Brennan.
When questioned about the specifics of the deal, Bessent clarified that he was "not part of the commercial side of the transaction."
He further elaborated, stating, "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."
On the same day, high-level officials from both China and the US gathered for the second day of trade discussions in Malaysia, as Trump began a three-nation Asia tour.
As part of this tour, Trump is scheduled to meet with President Xi on October 30, during the Asia-Pacific Economic Cooperation (APEC) Summit in South Korea.
Last month, Trump signed an executive order that allows TikTok to continue operating in the US under a revised corporate structure that includes American investors, although the full details of the deal remain undisclosed.
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