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Trump and Xi will ‘consummate’ TikTok deal on Thursday, treasury secretary says

Media & Entertainment News | TechCrunch · Anthony Ha · last updated

The United States and China are ready to move forward on a TikTok deal, according to Treasury Secretary Scott Bessent.

Bessent had already said last month that the two countries reached a “framework” on a deal during discussions in Madrid, and President Donald Trump subsequently signed an executive order to facilitate the transaction.

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Related Knowledge Center: The TikTok ban

State of Play

The U.S. Congress passed and President Joe Biden signed into law a measure banning TikTok if it weren’t sold by its Chinese ownership. But now-President Donald Trump gave the service a reprieve, and a sale of its U.S. operations appears imminent.

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