TikTok Deal to Be Finalized Thursday, Treasury Secretary Scott Bessent Confirms

In a major development for the future of social media in the United States, Treasury Secretary Scott Bessent announced on Sunday that a final TikTok deal has been reached and is expected to be formally completed this Thursday. The announcement came during Bessent's appearance on CBS's "Face the Nation with Margaret Brennan," where he revealed that President Donald Trump and Chinese President Xi Jinping will "consummate the transaction" during their upcoming meeting in South Korea.

The landmark agreement marks a potential end to years of uncertainty surrounding the popular video-sharing platform's operations in the United States. With over 170 million American users, TikTok has become one of the most influential social media platforms in the country, making the deal one of the most significant technology transactions in recent history.

Key Details of the TikTok Deal Announcement

According to Secretary Bessent, the United States and China reached a "final deal on TikTok" after extensive negotiations that took place in Madrid. "We reached one in Madrid, and I believe that as of today, all the details are ironed out, and that will be for the two leaders to consummate that transaction on Thursday in Korea," Bessent stated during the CBS interview.

The Treasury Secretary emphasized that his primary role was to secure Chinese approval for the transaction, noting that "My remit was to get the Chinese to agree to approve the transaction, and I believe we successfully accomplished that over the past two days." However, he clarified that he was not involved in the commercial aspects of the deal.

Timeline of Events Leading to This Moment

The path to this agreement has been long and complex. Congress initially passed legislation in April 2024 calling for a TikTok ban unless its Chinese parent company ByteDance divested its U.S. operations. The ban was set to take effect on January 20, 2025, but President Trump has issued multiple deadline extensions while his administration worked to negotiate an alternative solution.

On September 25, 2025, Trump signed an executive order outlining a framework for new ownership based in the United States, with a majority of American investors taking control of the platform. This latest announcement suggests that framework has now been fully developed and approved by both nations.

Understanding the National Security Concerns

The push for TikTok's divestiture stems from longstanding national security concerns raised by American officials. Lawmakers and security experts have warned that TikTok's algorithm, which determines what content users see, could be vulnerable to manipulation by Chinese authorities. The concern is that Beijing could use the platform to push propaganda or collect sensitive data on American users without detection.

TikTok is currently owned by ByteDance, a Chinese technology company. Under Chinese law, companies can be compelled to cooperate with intelligence services, raising fears about potential data access and content manipulation. These concerns prompted bipartisan support in Congress for legislation requiring either a sale to American owners or a complete ban of the application.

What the Deal Likely Includes

While Secretary Bessent did not disclose specific details of the finalized agreement, previous statements and the September executive order provide insight into the probable structure. Based on the framework announced earlier, the deal is expected to include:

• Majority American ownership: U.S. and international investors will own approximately 65% of TikTok's American operations
• Limited Chinese stake: ByteDance and Chinese investors will retain less than 20% ownership
• Algorithm control: U.S. investors will receive oversight of the app's algorithm and hold six of seven board seats
• Estimated valuation: The transaction is reportedly valued at approximately $14 billion
• Potential investors: Conservative media owners Rupert Murdoch and Larry Ellison have been mentioned as potential stakeholders

The Broader Context: U.S.-China Relations

The TikTok agreement is part of a broader framework for a potential trade deal between the United States and China. Secretary Bessent indicated that the TikTok transaction is connected to wider economic discussions that will take place during the Trump-Xi meeting scheduled for Thursday.

President Trump is currently on a five-day tour of Asia, including a summit of the Association of Southeast Asian Nations in Malaysia. The Thursday meeting in South Korea represents a critical moment for U.S.-China relations, with discussions expected to cover multiple issues including soybean and agricultural purchases from American farmers, trade balance, and the ongoing fentanyl crisis that has affected countless American communities.

What This Means for TikTok Users

For the 170 million Americans who use TikTok regularly, this deal represents good news. Rather than facing a complete ban of the platform, users can expect continued access to TikTok under new American ownership and management. The transition should be relatively seamless, with the app continuing to function as users have come to expect.

However, there may be changes in how data is collected and stored, with stricter privacy protections likely to be implemented under U.S. oversight. Content moderation policies may also evolve as American management takes control, though the core user experience should remain similar.

Political and Business Implications

This deal represents a significant political victory for the Trump administration, demonstrating an ability to negotiate complex international technology agreements. It also sets a precedent for how the United States might handle other foreign-owned applications that raise national security concerns.

For the technology industry, this transaction establishes new boundaries for foreign ownership of popular platforms in the United States. Other companies with significant Chinese investment may face similar scrutiny and pressure to restructure their ownership.

Frequently Asked Questions About the TikTok Deal

When will the TikTok deal be officially finalized?

According to Treasury Secretary Scott Bessent, the deal will be finalized on Thursday when President Trump and President Xi Jinping meet in South Korea.

Will TikTok continue to operate in the United States?

Yes, under the new ownership structure with majority American investors, TikTok will continue to operate in the United States without interruption.

Why was there concern about TikTok in the first place?

U.S. officials were concerned that TikTok's Chinese ownership could allow Beijing to access American user data or manipulate content on the platform for propaganda purposes.

Who will own TikTok after the deal?

American and international investors will own approximately 65% of TikTok's U.S. operations, while ByteDance will retain less than 20% ownership.

How much is the TikTok deal worth?

The transaction is estimated to be valued at approximately $14 billion, making it one of the largest technology deals in recent history.

What Happens Next?

All eyes are now on Thursday's meeting between President Trump and President Xi Jinping in South Korea. An official announcement is expected following their discussion, which will provide the complete details of the agreement and the timeline for implementation.

The transition period will likely involve regulatory approvals, the formation of a new corporate structure, and the implementation of data security measures to address the national security concerns that prompted the deal in the first place. Users can expect updates from TikTok leadership as the transition progresses.

Conclusion: A New Chapter for TikTok

The TikTok deal announcement represents a significant milestone in the ongoing relationship between American technology policy and Chinese-owned platforms. Rather than an outright ban, the negotiated solution attempts to address national security concerns while preserving access to a platform beloved by millions of Americans.

As Treasury Secretary Scott Bessent confirmed, the final details have been ironed out, and Thursday's meeting between the two presidents will mark the official consummation of this landmark agreement. For TikTok users, content creators, and the broader technology industry, this deal offers clarity after years of uncertainty and establishes a new framework for how international technology companies can operate in the United States market.