Overview
- Bessent said Chinese approval was finalized in Kuala Lumpur and predicted the agreement would advance over the coming weeks and months.
- China’s Commerce Ministry stated it would work with Washington to properly resolve TikTok issues but gave no timeline or specifics.
- Reporting indicates TikTok’s U.S. operations would be spun into a new entity with majority American ownership and Oracle serving as the security partner.
- Details reported by multiple outlets say ByteDance’s stake would be kept under 20 percent, Americans would hold six of seven board seats, and the algorithm plus U.S. user data would fall under U.S. oversight.
- A Sept. 25 executive order approved the proposed sale structure, granted a 120‑day window to finalize documents, and delayed enforcement of the 2024 divest‑or‑ban law until Jan. 20, 2026.