Final TikTok deal on the way? China vows to work with US on proper resolution — What we know

The United States and China are “close” to finalising a deal regarding the video-sharing social platform TikTok, according to multiple reports.

While US Treasury Secretary Scott Bessent said the deal has been approved by China, the Asian economy's Commerce Ministry said that China would “properly handle” TikTok-related issues with the US, as per an AFP report.

US-China TikTok deal: What did Scott Bessent say?

Speaking to Fox Business Network on 30 October, after US President Donald Trump's meeting with Chinese President Xi Jinping on the sidelines of the APEC 2025 Summit in South Korea, Bessent told the channel that China has approved the transfer agreement for TikTok.

“In Kuala Lumpur, we finalised the TikTok agreement in terms of getting Chinese approval, and I would expect that would go forward in the coming weeks and months, and we'll finally see a resolution to that,” Bessent said.

China says ‘committed’ to resolving TikTok issue

Meanwhile, China’s Commerce Ministry, in an official statement on 30 October, vowed to “work with” Washington to resolve ownership issues with TikTok's US unit, Bloomberg reported.

While the ministry in a statement said it is “committed to properly resolving issues related to TikTok”, it did not specify the details.

What TikTok deal does Donald Trump want?

Donald Trump has proposed that TikTok's US business be spun into a separate entity owned by Americans, with ByteDance's stake pared down to less than 20 per cent, according to the Bloomberg report. This would align with a national security law in the US.

If it goes through, it could signal a significant development in the US-China trade talks, but would require China to take control of a major private company with a substantial presence in the American social media space, it said.

What is the security debate over TikTok ownership?

As per a Pew Research Centre report published in September, around 43% of US adults under 30 years get their news from TikTok, AP reported. This is significantly higher compared to other social media platforms, including Google's YouTube, and Meta's Facebook and Instagram.

And a survey by the Pew Research Centre found that around 33% of Americans support a TikTok ban — down from 50% who agreed with a survey in March 2023. Another 33 per cent said they would oppose the ban and a similar number said they were unsure of their view on the matter.

For those who do support a ban, data security was the highest-ranked concern by 8 out of 10 respondents, the AP report added.

American officials have also flagged TikTok's recommendation algorithm as vulnerable to manipulation by Chinese authorities. There is, however, no evidence that such tactics have been employed, it said.

Chinese law mandates control of IP, including TikTok's recommendation algorithm remain under the country's control, it added.

(With inputs from Agencies)