New Delhi, Oct. 27 -- US Treasury Secretary Scott Bessent confirmed the finalization of an agreement on TikTok, following months of negotiations over Chinese control of the app's algorithm.

"We reached a final deal. and I believe that as of today, all the details are ironed out," speaking to CBS from Kuala Lumpur, Bessent said, noting that the leaders would formalize the arrangement in South Korea.

Bessent said he could not share further specifics on the finalized agreement, emphasizing that he was not "part of the commercial side of the transaction."

"My remit was to get the Chinese to agree to approve the transaction, and I believe we successfully accomplished that over the past two days," he said.

Bessent says Washington and Beijin...