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TikTok deal could be finalized this week, Treasury Secretary Scott Bessent says
- This week, U.S. Treasury Secretary Scott Bessent said Washington and Beijing built a very substantial framework averting President Donald Trump's threatened 100% tariffs set for November 1.
- Talks include substantial multiyear Chinese purchases of U.S. soybeans and deeper cooperation to curb fentanyl precursors, while pausing rare-earth export restrictions would ease pressure on Western manufacturers and buoy U.S. farmers, Bessent said.
- On Thursday, ByteDance, Chinese owner of TikTok, is expected to sell US assets under a 2024 divest-or-ban law, with a group likely retaining a minority stake; President Donald Trump said Larry Ellison, Rupert Murdoch, and Michael Dell will be involved.
- Jamieson Greer, U.S. trade representative, said `We are moving forward to the final details of the type of agreement that the leaders can review and decide if they want to conclude together` as talks advance.
- This week, President Donald Trump is scheduled to meet Chinese President Xi Jinping in South Korea to prioritize tariffs and TikTok amid 10% U.S. tariff tensions with Canada, Bessent said.
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US Treasury Secretary Scott Bessent said on Sunday that the United States and China have finalized details of a deal to sell the US version of TikTok to new owners. The deal could be approved by Donald Trump and Xi Jinping as early as Thursday. The deal is part of a broader trade framework, the details of which will be discussed in the coming days. Under the agreement, US investors will take majority ownership of TikTok's US unit, while China's …
·Hungary
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Treasury Secretary Bessent says US, China have finalized TikTok deal to be signed Thursday
“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,” Treasury Secretary Scott Bessent said
·Washington, United States
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Total News Sources121
Leaning Left16Leaning Right15Center64Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 16%
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