TikTok deal expected to finalize Thursday, says Treasury Secretary

Treasury Secretary Scott Bessent announced that the finalized TikTok deal will be consummated when President Trump meets Chinese President Xi Jinping on Thursday, following an executive order that requires TikTok’s Chinese parent company to divest. The agreement will create a U.S.-based joint venture with American investors holding a majority stake, though concerns remain about ByteDance’s continued involvement.

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