The future of TikTok in the United States took a major step forward Thursday after China approved a transfer agreement for the popular short-video app. US Treasury Secretary Scott Bessent confirmed the move, saying he expects the sale to progress over the coming weeks and months.

China’s Commerce Ministry says Beijing will work with the Trump administration to resolve issues related to TikTok’s ownership.

Treasury Secretary Scott Bessent said Thursday the U.S. and China have finalized an agreement on TikTok that would allow the popular social media platform to remain available in the U.S. “In

ByteDance did not respond to Ars’ request for comment. The TikTok owner has remained quiet throughout the Trump administration’s negotiations with China over the US sale, which is supposed to resolve US national security concerns that China may influence content on the app.

"In Kuala Lumpur, we finalized 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,

A tariff hike could potentially damage the Chinese economy. The U.S. imported about $438 billion worth of goods and services from China last year, making it the largest destination for China’s exports. In all, that figure accounts for about 15% of China’s exports, according to the Office of the U.S. Trade Representative.

China has approved Donald Trump's TikTok deal, ending an 18-month saga that kept millions of American users on edge.

According to U.S. national security law, Beijing-based ByteDance must sell TikTok's U.S. operations or effectively be banned in the country. China has yet to approve terms of a deal that would allow a new joint-venture company to oversee TikTok in the U.S.