What's at stake in US-China trade talks
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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. President Trump and Chinese leader Xi Jinping will officially “consummate” that deal when they meet in Busan,
This comes about a month after President Donald Trump signed an executive order declaring that the new TikTok deal met the requirements of the 2024 law that banned TikTok from operating in the U.S. At the time, Vice President JD Vance said the deal values the U.S. TikTok assets at $14 billion, as Deadline reported.
U.S. Treasury Secretary Scott Bessent confirmed on Sunday that the U.S. and China had reached a deal on TikTok.
President Donald Trump’s tariffs announcement this week prompted China to back out of a potential deal to save TikTok. The Trump administration was close to finalizing a deal for U.S. investors to own and operate the wildly popular app, but now the deal ...
With President Trump and Treasury Secretary Scott Bessent on a trip to Asia, Bessent told "Face the Nation with Margaret Brennan" that the TikTok deal will be finalized by Thursday. Bessent also said additional 100% tariffs with China are "effectively off the table" after the two-day meeting.
U.S. President Donald Trump said the U.S. and China are set to "come away with" a trade deal, as he is expected to meet Chinese President Xi Jinping later this week in South Korea during his Asia tour.