The Trump administration has been signaling that it may have finally reached a deal with China to keep TikTok running in the U.S., with the two countries finalizing it as soon as Thursday. President Donald Trump is visiting South Korea, where he will meet with Chinese President Xi Jinping to try to de-escalate a trade war.

Treasury Secretary Scott Bessent said during a CBS interview that Presidents Donald Trump and Xi Jinping will likely approve a TikTok sale on Oct. 30.

President Donald Trump and Chinese President Xi Jinping could "consummate" the TikTok deal announced last month when they meet on Thursday, Treasury Secretary Scott Bessent said.

This comes about a month after President Donald Trump signed an executive order declaring that the new TikTok deal met the requirements of the 2024 law that banned TikTok from operating in the U.S. At the time, Vice President JD Vance said the deal values the U.S. TikTok assets at $14 billion, as Deadline reported.

President Trump heads into a high-stakes meeting with Chinese President Xi Jinping seeking to finalize a trade deal that eases tensions globally.

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.

Lawmakers have long opposed TikTok’s algorithm because the app’s parent company, ByteDance, has ties to the Chinese Communist Party.

US President Donald Trump and Chinese President Xi Jinping are expected to discuss a wide range of issues — from fentanyl tariffs to rare-earths to soybean trade to TikTok deal. Will they discuss Taiwan and Ukraine war?

The US and China have finalized a deal to transfer the American version of TikTok to new owners, Treasury Secretary Scott Bessent revealed on Sunday.

Misinformation is tough to decipher in this day and age of social media. Over in China, the internet regulator has announced that it is further enforcing laws prohibiting social-media influencers from sharing advice on finance, medicine, law and education on social media unless they have the professional credentials to back up their content.

President Donald Trump invoked deceased conservative leader Charlie Kirk while addressing his negotiations with Chinese President Xi Jinping to keep TikTok available to Americans.

President Donald Trump and Chinese President Xi Jinping will hold high-stakes talks at the APEC summit in South Korea amid ongoing trade disputes over soybeans and rare earths.