Final TikTok deal on the way? China vows to work with US on proper resolution — What we know
The US and China are “close” to finalizing a deal on video-sharing social platform TikTok, according to multiple reports.
US Treasury Secretary Scott Bessent said the deal had been approved by China, while the Asian economy’s Department of Commerce said China would “properly address” TikTok-related issues with the US. AFP report.
US-China TikTok deal: What did Scott Bessent say?
To talk Fox Business Network On October 30, after US President Donald Trump met with Chinese President Xi Jinping on the sidelines of the APEC 2025 Summit in South Korea, Bessent told the channel that China had approved the transfer deal for TikTok.
“In Kuala Lumpur, we finalized the TikTok deal in terms of getting China’s approval, and I expect that to move forward in the coming weeks and months and we will eventually see a resolution to this,” Bessent said.
China says it is ‘determined’ to solve TikTok issue
Meanwhile, according to Bloomberg, in its official statement on October 30, China’s Ministry of Commerce promised to “work” with Washington to resolve TikTok’s ownership issues with the US unit.
In its statement, the Ministry stated that it was “determined to appropriately resolve the issues regarding TikTok” but did not specify details.
Which TikTok deal does Donald Trump want?
According to a Bloomberg report, Donald Trump suggested that TikTok’s US business be turned into a separate American-owned enterprise and ByteDance’s shares be reduced to below 20 percent. This would comply with national security law in the United States.
If this happens, it could signal a significant development in US-China trade talks, but it would require China to take control of a large private company with a significant presence in the American social media space.
What is the security controversy over TikTok ownership?
according to Pew Research Center About 43% of U.S. adults under 30 get their news from TikTok, according to a report published in September, the AP reported. This is significantly higher compared to other social media platforms, including Google’s YouTube and Meta’s Facebook and Instagram.
A Pew Research Center poll found that about 33% of Americans support a TikTok ban; The proportion of respondents in the survey conducted in March 2023 dropped to 50%. Another 33 percent said they would oppose the ban, and a similar number said they were unsure of their views on the issue.
For supporters of the ban, data security was the top concern for 8 in 10 respondents, the AP report said.
American officials also stated that TikTok’s recommendation algorithm was open to manipulation by Chinese officials. However, it was stated that there was no evidence that such tactics were used.
He added that Chinese law mandates that control of intellectual property, including TikTok’s recommendation algorithm, remain under the country’s control.
(With input from institutions)
