China has approved the transfer agreement for the short video app TikTok, U.S. Treasury Secretary Scott Bessent said on Thursday, adding that he expects it to move forward in coming weeks and months but giving no other details.

Treasury Secretary Scott Bessent’s victory lap on a TikTok deal has blown up in his face. President Donald Trump left his meeting with Chinese leader Xi Jinping without any mention of an agreement regarding the app’s future, despite Bessent asserting on Sunday that “we reached a deal on TikTok.”

Treasury Secretary Scott Bessent said during a CBS interview that Presidents Donald Trump and Xi Jinping will likely approve a TikTok sale on Oct. 30.

( NewsNation) — The U.S. and China have finalized a deal to allow popular social media app TikTok to continue to operate in the U.S., according to Treasury Secretary Scott Bessent.

Treasury Secretary Scott Bessent announced on Sunday that the Chinese government has agreed to a deal to sell TikTok to new ownership. “We reached a final deal on TikTok. We reached one in Madrid, and I believe that as of today,

The trade truce struck on Thursday between the United States and China gave American soybean farmers a lifeline they desperately needed after months of worry that an extended Chinese boycott would put them out of business.