In a significant development, the United States and China have reportedly finalized a deal to transfer majority ownership of the American version of TikTok to new owners. Treasury Secretary Scott Bessent made this revelation on Sunday, indicating that the plan was part of a broader framework for a trade deal between the two nations. The agreement comes just ahead of a high-stakes meeting between President Donald Trump and Chinese President Xi Jinping scheduled for Thursday in Korea.
According to The Guardian, Bessent stated, “We reached a final deal on TikTok,” during an appearance on CBS’s Face the Nation with Margaret Brennan. He further added, “We reached [a deal] 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.”
The Financial Times reported that the US and China have agreed on a “positive framework” for the upcoming Trump-Xi summit, with both sides expressing confidence in reaching a deal. Additionally, Reuters highlighted that the two countries are seeking to avoid an escalation of the trade war and salvage the meeting between the leaders.
While the specifics of the TikTok deal remain undisclosed, the agreement marks a significant step towards resolving tensions between the US and China. The negotiation process reflects a broader effort to address trade issues and foster a more cooperative relationship between the two economic powerhouses.
The Financial Times noted that the trade talks between the US and China are moving towards final details, indicating progress in the discussions. The Wall Street Journal also highlighted Bessent’s confident stance following the trade talks with China, suggesting a positive outlook for future negotiations.
Overall, the recent developments surrounding the TikTok deal and the ongoing trade talks between the US and China signify a potential thaw in relations and a step towards de-escalating trade tensions. The upcoming Trump-Xi summit holds the promise of further progress in resolving key issues affecting both nations.
###NexSouk #AIForGood #EthicalAI #TradeTalks #USChinaRelations
References:
1. The Guardian: [US and China reach ‘final deal’ on TikTok sale, treasury secretary says](https://www.theguardian.com/technology/2025/oct/26/us-china-tiktok-deal-scott-bessent)
2. Financial Times: [US and China kick off trade talks ahead of high-stakes Trump-Xi summit](https://news.google.com/rss/articles/CBMicEFVX3lxTFBSSHQyYWMzS05Td1ItV0tFbjc3M25URnQtNklCS3VJR1FUX2NLc0RKRHlwcVo5TWE4djlhZXJXWnVfdWg0SXlldlJMc0RZUnREUS1KemRyOGdXSm95bDZoM1c2WFNwVlpBb2xXWEhQd2o?oc=5&hl=en-US&gl=US&ceid=US:en)
3. Reuters: [US, China seek to avoid trade war escalation, salvage Trump-Xi meeting in Malaysia talks](https://news.google.com/rss/articles/CBMicEFVX3lxTE1YSER4NzN0QWJGcWVPdElXbGxEdzBHQ0JKalZ5Yk9WcWg2c0c2Q2JoNi0wSjhHRFJLeW5lYVdpd1lOWVBQdDFQUEtvZjlKZlhIWXVsWmg4RWJJVEtWU3VrRjFBeHh5YVN5ODJPMmFDWWQ?oc=5&hl=en-US&gl=US&ceid=US:en)
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