Trump and Xi will ‘consummate’ TikTok deal on Thursday, treasury secretary says

TechCrunchCenterEN 2 min read 100% complete by Anthony HaOctober 26, 2025 at 06:29 PM

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medium article 2 min

Treasury Secretary Scott Bessent announced that the United States and China have finalized a deal concerning TikTok, to be formalized by Presidents Trump and Xi on Thursday in Korea. The agreement follows an executive order signed by President Trump, which mandates ByteDance to sell TikTok’s U.S. operations or face a ban. Details of the transaction include Oracle taking responsibility for security operations under a new board of directors managing the app's algorithm, source code, and content moderation. Additionally, trade negotiators from both countries discussed extending a truce and addressing issues related to rare earth minerals in Malaysia.

Key Topics & Entities

Madrid 30% Kuala Lumpur, Malaysia 40% Oracle ×250% Fox Corp 50% Scott Bessent ×360% Xi Jinping 70% China ×480% US ×380% Donald Trump ×480% TikTok ×5100%

Keywords

tiktok deal 100% trump and xi 90% treasury secretary scott bessent 80% framework agreement 70% rare earth minerals 60% executive order 60% oracle 50% bytedance 50% trade issues 50% fox corp 40%

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United States

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tiktok deal trump and xi treasury secretary scott bessent framework agreement rare earth minerals executive order oracle bytedance trade issues fox corp

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