White House says deal to put TikTok under US ownership could be finalized in South Korea

President Donald Trump is visiting South Korea this week, where he will meet with Chinese President Xi Jinping to try to de-escalate a trade war.

Kiichiro Sato / Kiichiro Sato

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 told CBS’s “Face the Nation” Sunday that the two leaders will “consummate that transaction on Thursday in Korea.”