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US Treasury Secretary Scott Bessant is in Malaysia for two days engaging in trade talks with Chinese representatives. Apparently it has been, As Besant puts it In a Sunday appearance on CBS Face the nation“A very good two days”—so good, he claims, that the deal to give the American company control of TikTok is all but done and ready to be sealed when President Trump and Xi meet in South Korea next week.
In fact, Besant said the details were discussed in Madrid, when he met with Chinese negotiators last month Travel to Spain and the UK. It sheds little light on what Trump meant when he did Post a misleading statement 19 September on Truth Social about the TikTok deal. “The call was great, we will talk again on the phone, appreciate the TikTok endorsement, and both look forward to meeting at APEC!”
What, exactly, does “TikTok Approval” mean? Perhaps this is the deal.
A Legally prohibited TikTok was passed in the spring of last year, and theoretically went into effect this past January. President Trump has repeatedly delayed implementing the ban, which could mean steps like forcing app stores to take it down or block its use, instead moving slowly in talks to bring it under US control.
And the rumor is that it is US a lot This new version of TikTok will have control. it is sounds like Trump and China have struck a deal to spin off a separate app for US consumers, and allow this new US version to be controlled by a patchwork of US-based investors, allowing the China-based parent company, ByteDance, to own the coveted and highly addictive TikTok algorithm while they license it to the US spin-off.
That consortium of new owners is called involved Murdoch family, Oracle CEO Larry Ellison and Dell Technologies CEO Michael Dell.
Bessent was light on details other than that. “My motivation was to convince the Chinese to approve the transaction, and I believe we have successfully done that in the last two days,” he said.
