US-China TikTok deal to move forward on Thursday

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In the latest episode of As the TikTok Turns, it seems the long-running drama over the app’s US future might finally be wrapping up. 

Treasury Secretary Scott Bessent says the United States and China have reached a final deal that would keep TikTok alive and scrolling on American phones, at least for now.

Speaking on CBS’s Face the Nation Sunday morning, Bessent announced that both sides “have reached a final deal on TikTok,” following up on a “framework” hammered out in Madrid last month. 

President Donald Trump even signed an executive order to grease the bureaucratic wheels. 

Bessent added that all the fine print has been sorted, with the formal signing expected to take place on Thursday in Korea. 

Details remain hush-hush, though he hinted that his main job was convincing the Chinese side to sign off, and I believe we successfully accomplished that.

For those keeping score, Trump has repeatedly extended the deadline of a law forcing TikTok’s Chinese parent company, ByteDance, to sell the app or face a US ban. 

The new arrangement gives TikTok’s American operations, including its secret-sauce recommendation algorithm and content moderation, a fresh home under a new board of directors. 

Oracle, led by Trump ally Larry Ellison, will oversee security operations.

And because no tech deal is complete without a few billionaires in the mix, Fox Corp (yes, that Fox), venture firm Andreessen Horowitz, and private equity titan Silver Lake are all expected to invest in the joint venture. 

Trump himself reportedly confirmed Fox’s role, presumably between campaign stops and Truth Social posts.

Bessent’s remarks came from Kuala Lumpur, where broader US-China trade talks also took place. 

American negotiator Jamieson Greer noted that the two sides even touched on rare earth minerals, the secret ingredients for semiconductors, and every shiny gadget you can’t live without.

If this deal actually sticks, TikTok might just pull off what few thought possible: surviving Washington, Beijing, and a thousand executive orders with its dance trends and your “For You” page still intact.