United States Treasury Secretary Scott Bessent has spent the past two days in Malaysia, fully immersed in intensive trade negotiations with Chinese representatives. According to Bessent, the discussions have been highly productive and even more promising than expected. During his Sunday interview on CBS’s *Face the Nation*, he described these meetings as “a very good two days,” a phrase that conveyed both optimism and confidence. The progress reported was not merely rhetorical; Bessent claimed that the long‑anticipated agreement enabling an American company to assume control over TikTok has been completely structured and prepared for official confirmation. This decisive step is anticipated to occur when Presidents Donald Trump and Xi Jinping convene in South Korea next week, marking a potentially historic moment in U.S.–China economic relations.
Bessent further elaborated that many of the finer points of this arrangement were already resolved a month earlier in Madrid. At that time, while on an official tour of Spain and the United Kingdom, he engaged directly with Chinese negotiators to refine the framework of the deal. This revelation casts additional illumination on a cryptic message President Trump posted to Truth Social on September 19, in which he referred to a “very good” call, expressed appreciation for the “TikTok approval,” and mentioned an upcoming meeting at APEC. Until now, observers were uncertain about the precise implications of that statement—specifically, what the term “TikTok approval” entailed. It now appears increasingly plausible that the phrase referred to this very agreement, signaling preliminary consent from Beijing to proceed with the proposed restructuring of TikTok’s U.S. operations.
To appreciate the significance of this development, it is essential to recall that a formal, or *de jure*, ban on TikTok was passed in the spring of the previous year. Although this prohibition was officially enacted in January, President Trump has repeatedly deferred its enforcement. Rather than immediately implementing drastic measures—such as compelling app stores to remove TikTok or technically blocking its accessibility within the United States—his administration has opted for a gradual, diplomatic approach. This strategy has focused on negotiating terms that would place the application under American regulatory and corporate control, aligning national security interests with economic pragmatism.
Current rumors circulating within both governmental and financial circles suggest that the United States will soon wield predominant influence over this restructured version of TikTok. Indications point to an agreement under which the platform’s American operations would be transferred into a new, distinctly U.S.-based entity. This fresh spinoff would cater specifically to American users and be governed by a consortium of domestic investors. Intriguingly, the China-based parent company, ByteDance, is expected to retain ownership of TikTok’s proprietary and famously captivating algorithm—widely regarded as the driving force behind the app’s global popularity—while licensing it to the new American affiliate. This arrangement would allow both nations to claim partial victories: the U.S. ensuring oversight of its digital ecosystem, and China preserving its valuable technological asset.
Reports further suggest that this American investor group will include several influential business figures renowned for their technological and financial expertise. Among them are the Murdoch family, whose extensive media holdings have historically shaped international communications; Oracle’s cofounder and chief executive, Larry Ellison, known for his prominent role in Silicon Valley enterprise software; and Michael Dell, CEO of Dell Technologies, a pioneer in global computing infrastructure. Such a coalition would undoubtedly lend both credibility and strategic capability to the new TikTok entity.
Despite sharing these insights, Bessent maintained a degree of discretion regarding further specifics. He summarized his mission concisely yet confidently: “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.” His statement underscores that the primary objective of this diplomatic tour—the securing of China’s formal assent—has indeed been achieved, potentially ushering in a new era of cooperation between two of the world’s most powerful digital economies.
Sourse: https://gizmodo.com/trumps-tiktok-deal-will-supposedly-close-on-thursday-2000677252
