“ US Treasury Secretary Scott Bessent said China and the US have agreed on an agreement on the popular TikTok app, and Washington expects to implement it soon. Source: “European Truth” with reference to ReutersDetails: As Bessent said on Thursday, October 30, China approved the agreement to transfer ownership of the American assets of TikTok. They are expected to be owned by a new entity owned mostly by American investors, with ByteDance’s stake reduced to less than 20%, as required by national security law. “In Kuala Lumpur, we finalized the deal on TikTok in terms of getting China’s approval, and I expect that to be implemented in the coming weeks and months, and we will finally see a resolution to this issue,” he said ahead of US President Donald Trump’s meeting with Chinese leader Xi Jinping. China’s Ministry of Commerce, for its part, said that China will properly resolve issues related to TikTok with the United States. It will be recalled that the initial deadline for the sale of TikTok to ByteDance was January 19, but the day after taking office, Trump signed an executive order that gave the company another 75 days to conclude the deal. Trump then extended the sale several times. In particular, the American president stated that China’s dissatisfaction with the new US tariffs suspended the agreement on the sale of the TikTok application and the preservation of its operation in the United States. It should be noted that a member of the US Senate Intelligence Committee, Democrat Mark Warner, said that the deal for the sale of TikTok assets, which is currently being considered, may violate the law.”, — write: www.pravda.com.ua
Source: “European truth” with reference to Reuters
Details: As Bessent said on Thursday, October 30, China approved an agreement to transfer ownership of TikTok’s American assets.
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It is expected that they will own the new enterprisewhich will be owned mostly by American investors, and ByteDance’s stake will be reduced to less than 20%, as required by national security law.
“In Kuala Lumpur, we finalized the deal on TikTok in terms of getting China’s approval, and I expect that to be implemented in the coming weeks and months, and we will finally see a resolution to this issue,” he said ahead of US President Donald Trump’s meeting with Chinese leader Xi Jinping.
The Ministry of Commerce of China, in turn, said that China properly will solve the problemrelated to TikTok, with the United States.
It will be recalled that the initial deadline for the sale of TikTok to ByteDance was January 19, but the day after taking office, Trump signed an executive order that gave the company another 75 days to conclude the deal.
Trump then extended the sale several times. In particular, the American president stated that China’s dissatisfaction with the new tariffs The US suspended the agreement to sell the TikTok app and keep it operating in the US.
It should be noted that a member of the US Senate Intelligence Committee, Democrat Mark Warner, said that the deal for the sale of TikTok’s assets, which is currently under consideration, may violate the law.