00:00U.S.-China TikTok deal to move forward on Thursday
00:03In the latest episode of As the TikTok Turns, it seems the long-running drama over the app's U.S. future might finally be wrapping up.
00:11Treasury Secretary Scott Besant 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.
00:20Speaking on CBS's face, The Nation Sunday morning, Besant announced that both sides have reached a final deal on TikTok, following up on a framework.
00:30Hammered out in Madrid last month.
00:32President Donald Trump even signed an executive order to grease the bureaucratic wheels.
00:37Besant added that all the fine print has been sorted, with the formal signing expected to take place on Thursday in Korea.
00:43Besant said his key task was securing China's approval for the deal, which he believes was achieved.
00:48Trump has repeatedly extended the law's deadline requiring ByteDance to sell TikTok or face a U.S. ban.
00:55Under the new arrangement, TikTok's U.S. operations, including its algorithm and content moderation, will move under a new American board of directors.
01:04Oracle, led by Trump ally Larry Ellison, will manage TikTok's security, while Fox Corp, Andresen Horowitz, and Silver Lake are expected investors.
01:13Trump reportedly confirmed Fox's involvement during his campaign appearances.
01:17Speaking from Kuala Lumpur, Treasury Secretary Scott Besant confirmed progress in broader U.S.-China trade talks,
01:25with negotiator Jameson Greer adding that discussions covered rare earth minerals and semiconductor materials.
01:32If finalized, the deal would mark a rare diplomatic win, allowing TikTok to survive scrutiny from both Washington and Beijing while keeping its platform intact.
01:47Also, like, we will always like tozug back and dive into ourquiet data and 걸み-ف quote409-2008-2008-2009-2008-2008-3008-2008-667q-217.
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