In the latest episode of As the TikTok Turns, it seems the long-running drama over the app’s US future might finally be wrapping up. Treasury Secretary Scott Bessent says the United States and China have reached a final deal that would keep TikTok alive and scrolling on American phones, at least for now.

"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.

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.

U.S. Treasury Secretary Scott Bessent confirmed on Sunday that the U.S. and China had reached a deal on TikTok.

Treasury Secretary Scott Bessent announced on Sunday that the Chinese government has agreed to a deal to sell TikTok to new ownership. “We reached a final deal on TikTok. We reached one in Madrid, and I believe that as of today,

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.

Treasury Secretary Scott Bessent expects major progress on both trade negotiations and a TikTok deal when Trump meets Xi in Korea next week.