Overview
- Treasury Secretary Scott Bessent told the Financial Times the transaction is settled and should close very soon.
- China’s Ministry of Commerce said it would work with the United States to properly resolve TikTok’s ownership following the Xi–Trump meeting in Busan.
- A September 25 presidential order set the deal’s contours with U.S. majority control, ByteDance below 20% and a new board under rules aimed at protecting American data.
- Officials have cited an approximate $14 billion valuation for the new U.S.-controlled company, as noted during the deal’s signing ceremony.
- Enforcement of the U.S. law requiring divestiture remains paused until December 16, 2025, while public debate includes warnings from former U.S. official Chas Freeman about potential censorship pressures once U.S. investors take control.