US and China Finalize TikTok Transfer Deal: Trump and Xi Jinping to Seal Agreement in South Korea
The United States and China have come to an agreement to transfer the American version of TikTok to new owners, as announced by Treasury Secretary Scott Bessent. President Trump and Chinese leader Xi Jinping are set to finalize the deal during their meeting in Busan, South Korea on Thursday, marking their first in-person encounter since 2019. Bessent confirmed the completion of the TikTok deal on CBS News' "Face the Nation," stating that all details have been sorted out for the leaders to seal the transaction in Korea.
President Trump had previously signed an executive order to facilitate the transfer of TikTok, but some specifics still needed to be resolved between the two parties. Bessent refrained from disclosing further information about the finalized deal, mentioning that he was not involved in the commercial aspects of the transaction.
In conclusion, the US and China have reached a final agreement to transfer the American version of TikTok to new owners, with President Trump and Chinese leader Xi Jinping expected to formalize the deal during their upcoming meeting in South Korea.