China Approves TikTok Transfer Deal, Confirms US Treasury Secretary Scott Bassett

Washington : US Treasury Secretary Scott Bassett has confirmed that China has approved the long-awaited TikTok transfer deal.

According to international media reports, Bassett stated that the deal is now expected to move forward in the coming weeks and months following China’s official approval. However, he did not share further details about the agreement.

Speaking on Fox Business Network’s Mornings with Maria, Bassett said, “In Kuala Lumpur, we finalized the TikTok agreement in coordination with Chinese approval, and I expect progress on this in the weeks ahead.”

Read More :  Indonesia Suspends TikTok Over Data Sharing Issues

China’s Ministry of Commerce also issued a statement on Thursday, saying that Beijing will handle TikTok-related matters with the United States “appropriately.” A ministry spokesperson added that both sides will work together to resolve TikTok issues in a cooperative manner.

Earlier, on September 25, US President Donald Trump signed an executive order related to TikTok, with the deal valued at approximately $14 billion. President Trump stated that American investors are taking over TikTok ownership, ensuring the platform’s safety for US users.

He also praised Chinese President Xi Jinping, saying he “played an excellent role in the approval process” and did not object to the US measures on TikTok.