TikTok will retain "Chinese characteristics" after sale, Bessent says

A framework deal is in place for the sale of TikTok, with the U.S. guaranteeing certain "Chinese characteristics" of the app can remain, Treasury Secretary Scott Bessent told multiple news outlets on Monday.Why it matters: Congress banned TikTok last year in a rare show of bipartisanship over fears of Chinese influence over American kids. It appears the new deal may not remove that influence altogether. Driving the news: Bessent, in Madrid for trade talks with his Chinese counterparts, told Reuters and Bloomberg that the broad outlines of a deal were in place, particularly once it became clear the U.S. might go ahead with a ban on Wednesday.Reuters quoted Bessent as saying the commercial side of the deal will preserve the app's "Chinese characteristics," though he did not elaborate. "They're interested in Chinese characteristics of the app, which they think are soft power," Bessent reportedly said. "We don't care about Chinese characteristics. We care about national security."Zoom out: President Trump — who became a fan of TikTok during the 2024 campaign for the reach it gave him with young voters — has signed multiple executive orders delaying a ban on the app while a sale was negotiated.Early Monday morning, U.S. officials said the Chinese came to the Madrid talks with a list of demands. Soon thereafter, fresh reports indicated the U.S. was prepared to let the app go dark this week. Those threats, Bessent said, were the key to finally making a deal.What to watch: Trump said early Monday he is due to discuss the deal with Chinese leader Xi Jinping on Friday.

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