China, Trump and TikTok
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TikTok, China and Scott Bessent
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Well, according to U.S. Treasury Secretary Scott Bessent, it’s still all good, and TikTok will be sold into U.S. ownership well ahead of the latest extended deadline for the enforcement of the Senate-approved Protecting Americans from Foreign Adversary Controlled Applications Act.
The two leaders are set to meet for their first meeting of Trump's second term. Officials are optimistic on a "framework" for a climbdown in trade tensions. Expect TikTok and Taiwan to also feature in the talk.
"All the details are ironed out, and that will be for the two leaders to consummate that transaction on Thursday in Korea," said US Treasury Secretary Scott Bessent.
Global stocks rallied on Monday to a fresh intraday record while the dollar eased on optimism that a potential trade deal was on the horizon between China and the U.S., as investors awaited a slew of central bank policy announcements and earnings from several megacap companies.
U.S. Treasury Secretary Scott Bessent said he believes U.S. soybean farmers will be "extremely happy" with the trade deal with China.