China Approves TikTok U.S. Transfer, Treasury Secretary Confirms Deal
GeokHub
Contributing Writer
In a surprising turn after months of negotiation, China has approved an agreement to transfer TikTok’s U.S. operations, U.S. Treasury Secretary Scott Bessent announced Thursday. His remarks suggest the long-delayed deal could proceed over the coming weeks, bringing a resolution to one of the most contentious tech and trade disputes between the two countries.
“China has approved the transfer agreement for TikTok,” Bessent said, noting that the approval came following talks in Kuala Lumpur. He added that he expects the process to move forward soon, but offered no further detail on structure, timeline, or ownership splits.
China’s Commerce Ministry released a statement on the same day, saying it would “properly handle TikTok-related issues” with the United States. ByteDance, TikTok’s China-based parent company, declined to comment immediately.
The approval marks a pivotal shift in the TikTok saga — a dispute that has dragged on since the U.S. Congress passed legislation in 2024 requiring ByteDance to divest its U.S. assets or face a ban. TikTok’s fate has hung in limbo, with 170 million Americans depending on the app.
President Donald Trump had previously signed an executive order outlining conditions under which the transfer must proceed, including restructuring of TikTok’s algorithmic control and governance. Under that order, ByteDance would retain less than 20% ownership, and a majority-American board would manage strategic decisions.
With China’s signoff now officially in the mix, all eyes turn to the next steps: regulatory approvals, investor agreements, and security safeguards. If completed, the deal would represent a rare breakthrough in U.S.–China tech diplomacy — and set a precedent for how data and algorithmic ownership are handled across borders.
