President Donald Trump valued TikTok’s US assets at $14 billion in an executive order signed in September.
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sale Tik Tok The deal could be finalized to a US buyer on Thursday, October 30 by the Secretary of the Treasury Scott Besant He said.
during Interview October 26 Pisant said on CBS’ “Face the Nation with Margaret Brennan.” Donald Trump A has been completed Tik Tok The agreement was reached when he met with Chinese President Xi Jinping in September. The two leaders will meet in South Korea on Thursday, October 30.
“I think as of today, all the details have been settled, and the two leaders will have to complete this deal on Thursday in Korea,” Besant said of the sale. He did not provide additional information about the sale, and the White House did not immediately respond for clarification when contacted by USA TODAY on October 29.
What is TikTok’s initial deal?
Trump signed an executive order on September 25 valuing TikTok’s US assets at 14 billion dollarsDays after the White House announced A Initial deal It was struck to keep the short video platform available in the US
The agreement would separate TikTok’s US operations into a new joint venture consisting of majority US ownership. Oracle, a US-based technology company, will act as TikTok’s security provider for its US operations. The full ownership portfolio will be accumulated upon closing of the transaction, expected in early 2026.
How did we get here? TikTok ban summary
Talks about selling TikTok to American buyers have been ongoing since Trump first took office.
Some government officials have expressed concerns that TikTok poses a national security threat, believing that ByteDance, TikTok’s Beijing-based parent company, is sharing US user data with China. TikTok has repeatedly denied these allegations.
In January, the platform was gone Darkness for less than 24 hours Under federal legislation signed into law by the former president Joe Biden In 2024, ByteDance has not liquidated the platform by a specific deadline.
Since January, Trump has signed four executive orders to postpone the TikTok sale deadline.
Contributing: Joey Garrison and Zach Anderson, USA TODAY
Greta Cross is a national correspondent for USA TODAY. Story idea? Send her an email at gcross@usatoday.com.
