Beijing/Washington: China has officially approved the transfer agreement for short video app TikTok, US Treasury Secretary Scott Bessent confirmed on Thursday, marking a potential turning point in the years-long standoff between the United States and China over the app’s ownership and data security concerns.
Speaking to Fox Business Network after President Donald Trump’s meeting with Chinese leader Xi Jinping, Bessent said the agreement had been finalized during recent discussions in Kuala Lumpur.
“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 stated.
While Bessent did not disclose further details regarding the structure or timeline of the deal, his comments suggest that both Washington and Beijing may finally be moving toward a settlement that could decide the app’s future in the US market.
China’s Statement on TikTok
Earlier in the day, China’s Commerce Ministry issued a statement acknowledging progress in the TikTok matter. The ministry said China would “properly handle TikTok-related issues with the United States,” signaling a willingness to cooperate after months of uncertainty surrounding the platform’s operations.
The approval follows years of negotiations and legal challenges that have kept TikTok’s fate in limbo, particularly amid US concerns about user data being accessed by Chinese authorities.
Background: A Prolonged Dispute
The TikTok controversy dates back to 2020, when the Trump administration raised national security concerns over the app’s Chinese parent company, ByteDance, alleging potential risks tied to data sharing and surveillance.
Since then, the app has faced multiple regulatory hurdles in the US, with discussions often centered around forcing ByteDance to divest its American operations to a US-based entity. The latest approval from Beijing could now pave the way for such a transfer, though key operational and ownership details remain undisclosed.
The Road Ahead
Analysts suggest that the Chinese government’s green light represents a rare moment of cooperation between the two nations on a contentious technology issue. However, they also caution that regulatory and political complexities on both sides could still delay the process.
If the transfer proceeds smoothly, it could finally provide clarity for TikTok’s 170 million American users and thousands of creators who rely on the platform.
For now, all eyes remain on the official terms of the agreement, which are expected to emerge in the coming weeks as both governments work toward a long-awaited resolution.