The US and China have finalized a deal to transfer majority ownership of the American version of TikTok to new owners, Treasury Secretary Scott Bessent revealed on Sunday.
The United States and China have reached a final agreement on the transfer of TikTok’s ownership, resolving a long-standing dispute over the popular video-sharing platform’s ties to the Chinese Communist Party. Treasury Secretary Scott Bessent announced the deal during an appearance on CBS News’ Face the Nation, stating that President Trump and Chinese leader Xi Jinping will officially “consummate” the agreement during their upcoming meeting in Busan, South Korea on Thursday.
The finalization of the TikTok deal marks a crucial step in addressing US national security concerns surrounding the app’s ownership by ByteDance, a company with links
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