Treasury Secretary Scott Bessent said Sunday on CBS News' Face the Nation that China and the United States “ironed out” the details of the TikTok deal, and that an official announcement is expected when the two leaders meet on Thursday.

Newsweek has filled out an online press form to contact TikTok for comment on Sunday.

The announcement comes after months-long back-and-forth over the app, its algorithm, and parameters for operation in the U.S. Last month, the administration said China was onboard with the deal, but nothing has been finalized.

U.S. talks over TikTok’s ownership stem from national-security concerns. The first Trump administration raised concerns about the app and its ownership, seeking to ban it. Then-President Joe Biden gave a January 2025 deadline for a deal to be reached, or the app be shut down in the U.S. Trump, when he returned to office earlier this year, said he wanted to secure an agreement and delayed the ban, keeping the app online temporarily.

TikTok has widespread influence in the U.S., with about 43 percent of U.S. adults younger than 30 say they regularly get news from TikTok, a higher percentage than any other social media app, including YouTube, Facebook, and Instagram, according to a Pew........

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