"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. As Bessent explained in an interview on CBS' "Face the Nation" over the weekend, U.S. and Chinese negotiators reached an agreement after meeting up in Madrid recently,"
"and the details, as to his understanding, have now been firmly established, paving a way forward for the sell-off. "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." Following the latest tariffs imposed by the U.S. on China-based trade earlier this month, Chinese officials have criticized America's approach, suggesting that U.S. trade strategies are more about protectionism than open exchange."
""In spite of the national treatment concept fervently promoted by the U.S. (and other Western economies), the U.S. administration tends to view any successful Chinese business as a 'national security threat'." In line with this, reports have also suggested that in order for a TikTok deal to be approved, Chinese officials will push for a similarly expansive arrangement that goes beyond direct trade , which the U.S. has long opposed, in support of Taiwan's independence."
U.S. Treasury Secretary Scott Bessent says TikTok will be sold into U.S. ownership well ahead of the extended enforcement deadline. U.S. and Chinese negotiators reached an agreement after meeting in Madrid, and the deal's details have been described as firmly established to pave the sell-off. Bessent expects the two leaders to consummate the transaction on Thursday in Korea. Chinese officials criticized recent U.S. tariffs as protectionist rather than open exchange. The U.S. often treats successful Chinese businesses as national security threats. Reports indicate Chinese officials may seek expansive arrangements beyond direct trade, including matters touching Taiwan, which the U.S. opposes.
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