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 US and China have finalized a deal to transfer the American version of TikTok to new owners, Treasury Secretary Scott Bessent revealed on Sunday.

Treasury Secretary Scott Bessent said Sunday on CBS News' Face the Nation that China and the United States “ironed out” the details of the TikTok deal, and that an official announcement is expected when the two leaders meet on Thursday. Newsweek has filled out an online press form to contact TikTok for comment on Sunday.

Treasury Secretary Scott Bessent said on “Face the Nation” on Sunday that China and the United States had reached “a final deal on TikTok,” but offered few details.

President Donald Trump and Chinese President Xi Jinping could "consummate" the TikTok deal announced last month when they meet on Thursday, Treasury Secretary Scott Bessent said.

A TikTok deal between China and the United States could be signed as early as Thursday, US President Donald Trump said aboard Air Force One en route to Japan from Malaysia, CNBC reported. The deal, which will see new ownership of the app's operations in the US, is estimated to be valued at $14 billion (€12 billion).

"All the details are ironed out, and that will be for the two leaders to consummate that transaction on Thursday in Korea," said US Treasury Secretary Scott Bessent.

U.S. Treasury Secretary Scott Bessent announced that the U.S. and China have finalized a deal transferring TikTok’s U.S. operations to American investors, easing trade tensions.

Well, according to U.S. Treasury Secretary Scott Bessent, it’s still all good, and TikTok will be sold into U.S. ownership well ahead of the latest extended deadline for the enforcement of the Senate-approved Protecting Americans from Foreign Adversary Controlled Applications Act.

The TikTok deal between the United States and China has been finalized, Treasury Secretary Scott Bessent said on Sunday.

The two leaders are set to meet for their first meeting of Trump's second term. Officials are optimistic on a "framework" for a climbdown in trade tensions. Expect TikTok and Taiwan to also feature in the talk.

US stocks jumped Monday morning after President Trump signaled a trade deal with China is likely to come this week, including an end to export restrictions on critical minerals. The Dow Jones Industrial Average soared 302 points,