Treasury Secretary Scott Bessent said Thursday that the U.S. and China have finalized an agreement on TikTok that would allow the popular social media platform to remain available in the U.S.

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

President Trump approved the deal last month after receiving the “go-ahead” from Chinese President Xi Jinping. Under the agreement, TikTok will be spun off into a separate U.S. entity, majority owned by American investors such as Oracle and Silver Lake.

The deal seeks to limit the role of TikTok’s China-based parent company, ByteDance, to comply with a 2024 law requ

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