Trump, Xi to Consummate TikTok Deal at Thursday Summit
(MENAFN) US Treasury Secretary Scott Bessent announced Sunday that a comprehensive agreement concerning TikTok is poised for completion when US President Donald Trump and Chinese President Xi Jinping convene 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 stated during an appearance on the program Face the Nation with Margaret Brennan.
When pressed about the transaction's specifics, Bessent clarified he is "not part of the commercial side of the transaction."
"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," he said.
Senior representatives from China and the US gathered Sunday for a second consecutive day of trade negotiations in Malaysia as Trump launched a three-country Asian diplomatic tour, which includes a scheduled bilateral meeting with the Chinese leader on Oct. 30 alongside the Asia-Pacific Economic Cooperation (APEC) Summit in South Korea.
Trump issued an executive order last month permitting TikTok to continue US operations under a restructured corporate framework involving American investors, though the arrangement's precise terms have not been publicly disclosed.
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