Treasury Secretary Scott Bessent said during a CBS interview that Presidents Donald Trump and Xi Jinping will likely approve a TikTok sale on Oct. 30.

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.

President Donald Trump said he expects to lower tariffs the U.S. has imposed on Chinese goods over the fentanyl crisis and speak with China's Xi Jinping about Nvidia Corp.'s flagship Blackwell artificial intelligence chip,

President Trump heads into a high-stakes meeting with Chinese President Xi Jinping seeking to finalize a trade deal that eases tensions globally.

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.

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.

"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.

When President Donald Trump sits down with Chinese leader Xi Jinping this week, trade will be the subject at hand. But it is also an opportunity for something else: a chance to secure the release of US citizens detained by the People’s Republic.