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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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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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Coverage Details
Total News Sources122
Leaning Left15Leaning Right15Center63Last UpdatedBias Distribution68% Center
Bias Distribution
- 68% of the sources are Center
68% Center
L 16%
C 68%
R 16%
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