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 said Thursday that the U.S. and China have finalized an agreement on TikTok that would allow the popular social media platform to remain available in the U.S.

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.

ByteDance did not respond to Ars’ request for comment. The TikTok owner has remained quiet throughout the Trump administration’s negotiations with China over the US sale, which is supposed to resolve US national security concerns that China may influence content on the app.

The Trump administration has been signaling that it may have finally reached a deal with China to keep TikTok running in the U.S., with the two countries finalizing the details as soon as Thursday

TikTok announced three new features at its US Creator Summit yesterday. They include an update to revenue sharing for creators that offer subscriptions plus tools that can help with both the early planning stages of a video, and the process of editing longer clips into multiple shorter ones.

Everyone from Sabrina Carpenter to the Jonas Brothers are lip-syncing to a mashup of 4 Non Blondes' "What's Up?" and Nicki Minaj's "Beez in the Trap." Here's everything to know about the viral TikTok trend,