China Approves TikTok Transfer Agreement: US Treasury Secretary Confirms Progress

Trump and Xi met on Thursday.

China has approved the transfer agreement for the short video app TikTok, US Treasury Secretary Scott Bessent announced on Thursday. He indicated that the process is expected to move forward in the coming weeks and months, although he did not provide additional specifics.

"In Kuala Lumpur, we finalised the TikTok agreement in terms of getting Chinese approval, and I would expect that would go forward in the coming weeks and months, and we'll finally see a resolution to that," Bessent told Fox Business Network following the meeting between President Donald Trump and Chinese leader Xi Jinping.

China's Commerce Ministry released a statement earlier on Thursday stating that China would appropriately handle TikTok-related matters with the United States.