Syed Saif Ul Hassan 
Oct 27, 2025
Nearly six months following its reinstation in the United States after a ban took effect, the US and China are ready to finalise the TikTok US deal as leaders from both sides are scheduled to meet on Thursday.
According to Treasury Secretary Scott Bessent, a framework for the agreement was also established during discussions in Madrid last month. Following this, US President Donald Trump signed an executive order to facilitate the transaction.
In a recent appearance on CBS’ Face the Nation, Bessent stated, “We reached a final deal on TikTok,” while mentioning that all details have been resolved and that the two leaders will complete the transaction this Thursday in Korea.
While he refrained from disclosing specifics of the deal, he expressed confidence that the Chinese government has agreed to approve the deal.
Under the executive order, TikTok's US operations will be overseen by a new board of directors, with Oracle responsible for security measures.
Investors in this joint venture include Oracle, Fox Corp, Andreessen Horowitz, and Silver Lake Management, with Fox’s involvement seemingly confirmed by Trump.
Bessent made these remarks from Kuala Lumpur, Malaysia, where US and Chinese trade negotiators have also reached a framework for addressing tariffs and other trade matters.
US trade negotiator Jamieson Greer mentioned that discussions included rare earth minerals, which are crucial for semiconductor production.
Indications were also given of the talks involving various topics, including the potential extension of the trade truce.
