US and China Reach “Final Agreement” on TikTok Sale, Says Treasury Secretary

US Treasury Secretary Scott Bessent announced on Sunday that the details regarding the transfer of TikTok’s US operations to a new owner have been finalized between the US and China.

“We have reached a conclusive agreement regarding TikTok,” Bessent stated. said, during an appearance with Margaret Brennan on CBS’s Face the Nation. He referred to Donald Trump and China’s Xi Jinping, mentioning: “With discussions scheduled for Thursday in South Korea, the two leaders will convene in Madrid, and we believe all details have been finalized, which will complete the agreement.”

While Bessent did not share specifics of the transaction, he noted it is part of a larger trade deal framework that both nations will discuss when President Trump and President Xi Jinping meet in the coming days.

Bessent’s remarks followed President Trump’s signing of a presidential order on September 25th, which allowed for a new ownership agreement in the US involving a majority of US investors.

“I am not involved in the commercial details of this transaction,” Bessent remarked. “My focus was to secure approval from the Chinese side for the transaction, which I believe we have effectively achieved over the past two days.”


Barron Trump, President Trump’s 19-year-old son, proposed that the president nominate former social media producer Jack Advent as a director. President Trump has indicated that the new US investors include prominent conservative media figures like Rupert Murdoch and Larry Ellison.

During his first presidential term, Trump threatened to ban TikTok in 2020 in retaliation for China’s handling of the coronavirus pandemic.

Congress enacted a ban on the app during Trump’s administration, which was signed into law by Joe Biden in April 2024. The agreement was set to take effect on January 20, 2025, but was extended four times by Trump while his administration negotiated the ownership transfer.

The estimated value of this contract is $14 billion, with US and international investors expected to hold about 65% of the company’s shares, while ByteDance and Chinese investors will maintain less than 20%.

Trump’s Executive Order grants new investors, including six of the seven board seats, oversight of the app’s algorithms.

Trump arrived in Malaysia on Sunday to participate in the Association of Southeast Asian Nations summit as part of a five-day tour of the region, and a direct meeting between Trump and Xi is planned for Thursday.

The two leaders are expected to discuss U.S. agricultural exports, the trade balance, and issues related to the fentanyl crisis, which were cited as reasons for Trump’s 20% tariffs on Chinese imports.

Source: www.theguardian.com

Uncovered: British Technology Secretary Peter Kyle’s Use of ChatGPT for Policy Guidance

British Secretary of Science, Innovation and Technology Peter Kyle says he uses chatGpt to understand difficult concepts.

Ju Jae-Young/Wiktor Szymanowicz/Shutterstock

British technology secretary Peter Kyle asked ChatGpt for advice on why artificial intelligence is so slow in the UK business community and which podcasts to appear on.

This week, Prime Minister Kiel Starmer said the UK government should make much more use of AI to improve efficiency. “We shouldn't spend substantial time on tasks where digital or AI can make it better, faster, the same high quality and standard.” He said.

now, New Scientist Kyle's record of ChatGpt usage is considered to be the world's first test under the Freedom of Information (FOI) Act, whether chatbot interactions are subject to such laws.

These records show that Kyle asked ChatGpt to explain why the UK Small Business (SMB) community is so slow to adopt AI. ChatGpt returned a 10-point list of issues that hinder adoption, including sections on “Limited Awareness and Understanding,” “Regulation and Ethical Concerns,” and “Less of Government or Institutional Support.”

The chatbot advised Kyle: “The UK government has launched initiatives to encourage AI adoption, but many SMBs have either been unaware of these programs or find it difficult to navigate. Limited access to funding or incentives for risky AI investments could also block adoption,” he said in regards to regulatory and ethical concerns. “Compliance with data protection laws such as GDPR, etc. [a data privacy law]which could be an important hurdle. SMBs may worry about legal and ethical issues related to the use of AI. ”

“As a minister in charge of AI, the Secretary of State uses this technology. A spokesman for the Department of Science, Innovation and Technology (DSIT), led by Kyle, said: “The government uses AI as a labor saving tool, supported by clear guidance on how to quickly and safely utilize technology.”

Kyle also used the chatbot in his canvas idea for media appearances, saying, “I am the Secretary of State for UK Science, Innovation and Technology. What is the best podcast for me to appear to reach a wide audience worthy of the responsibility of ministers?” ChatGpt proposed. Infinite salcage and Naked Scientistbased on the number of listeners.

In addition to seeking this advice, Kyle asked ChatGpt to define various terms related to his department: Antimatter, Quantum, and Digital Inclusion. Two experts New Scientist Regarding Quantum's definition of ChatGpt, he said he was surprised by the quality of the response. “In my opinion, this is surprisingly good.” Peter Night Imperial College London. “I don't think that's bad at all.” Christian Bonato at Heriot Watt University in Edinburgh, UK.

New Scientist Requested Kyle's recent data Interview with Politicshomepoliticians were explained “frequently” using chatgpt. He used it to “try to understand the broader context in which innovation came into being, the people who developed it, the organization behind them, and stated, “ChatGpt is fantastically superior and if there are places you really struggle to really get a deeper understanding, ChatGpt can be a very good tutor.”

DSIT initially refused The new scientistS FOI request, “Peter Kyle's ChatGPT history includes prompts and responses made in both personal and official abilities.” A sophisticated request was granted, with only prompts and responses made in official capabilities.

The fact that data was provided at all is a shock, and Tim Turner, a data protection expert based in Manchester, UK, thinks it may be the first case of a chatbot interaction being released under the FOI. “I'm amazed that you got them,” he says. “I would have thought they wanted to avoid precedent.”

This raises questions to governments with similar FOI laws, such as the United States. For example, ChatGpt is like an email or WhatsApp conversation. Both have been historically covered by FOI based on past precedents – or are they the results of search engine queries that traditionally organizations are likely to reject? Experts disagree with the answer.

“As a rule, if you can extract it from the departmental system, it will also cover the minister's Google search history,” says Jon Baines of the UK law firm Mishcon De Reya.

“Personally, I don't think ChatGpt is the same as Google search,” he says. John SlaterFOI expert. That's because Google search doesn't create new information, he says. “ChatGpt, on the other hand, “creates” something based on input from the user. ”

This uncertainty may make politicians want to avoid using personalized commercial AI tools like ChatGpt, Turner says. “It's a real can of worms,” ​​he says. “To cover their backs, politicians definitely need to use public tools provided by their departments to ensure that the public is an audience.”

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Source: www.newscientist.com