Pres. Trump: China's President Xi has approved TikTok deal

Key Concepts:

• TikTok deal with US investors
• XI Jinping's approval
• Algorithm control
• US government board seat
• Sean Spicer's question
• Steve Bannon's suggestion
• Scott Besson as Treasury Secretary and Fed Chair

TikTok Deal Progress:

• President Trump stated that he and XI Jinping approved a deal to transfer TikTok to US investors.
• He emphasized that the deal is not yet finalized but is progressing well.
• Trump mentioned having a "great call" with President XI, who approved the TikTok deal.
• He highlighted the involvement of "great investors," including some of the "biggest in the world," who are American.
• Trump believes the deal is "well on its way" and could be a "formality."
• He expressed confidence in his relationship with XI Jinping and suggested China also wants the deal to proceed.

Algorithm Control and Governance:

• President Trump stated that the US side will have control of the TikTok algorithm under the contemplated deal.
• He did not directly answer whether the US government would have a board seat on the newly reconstituted US TikTok.
• Trump indicated that an announcement regarding the specifics of the deal, including governance, would be made in the future.

Sean Spicer's Question and Steve Bannon's Suggestion:

• Sean Spicer, the former White House press secretary, questioned President Trump about Steve Bannon's suggestion of Scott Besson serving as both Treasury Secretary and Chairman of the Fed.
• Trump dismissed the idea, stating, "I don't think that will be necessary."
• He mentioned that he had discussed the Fed Chair position with Besson, who expressed a preference for remaining at the Treasury.

Notable Quotes:

• "I had a great call with President XI and as you know, he approved the TikTok deal and we're in the process." - President Trump
• "I guess it could be a formality. I found his word to be very good." - President Trump, referring to XI Jinping.
• "I don't think that will be necessary." - President Trump, regarding Scott Besson serving as both Treasury Secretary and Fed Chair.

Conclusion:

President Trump provided updates on the TikTok deal, indicating progress and US control over the algorithm. He addressed governance questions without providing definitive answers. He also downplayed the possibility of Scott Besson holding dual roles as Treasury Secretary and Fed Chair, responding to a question from former White House Press Secretary Sean Spicer. The main takeaways are the ongoing progress of the TikTok deal, the anticipated US control over the algorithm, and the dismissal of Bannon's suggestion regarding Besson's roles.