The United States and China are reportedly close to reaching an agreement over the long-standing dispute surrounding TikTok, according to US Treasury Secretary Scott Bessent. The announcement came Monday as both nations resumed trade talks in Madrid aimed at easing tensions over technology and commerce.
Bessent, speaking to reporters outside Spain’s foreign ministry, said the negotiations with Chinese Vice Premier He Lifeng had made significant progress.
“On the TikTok deal itself, we’re very close to resolving the issue,” he noted. The discussions, which began Sunday, are scheduled to run through Wednesday — the same day TikTok faces a deadline to secure a buyer or risk a ban in the US.
TikTok, owned by Beijing-based ByteDance, has faced scrutiny in Washington over national security concerns tied to data privacy and Chinese government influence.
A federal law mandating the sale of TikTok or its ban was set to take effect the day before President Donald Trump’s inauguration on January 20. However, Trump, whose 2024 campaign leaned heavily on social media engagement and who has spoken positively about TikTok, paused the ban.
Bessent stressed that while the TikTok matter is critical, it does not define the overall relationship between Washington and Beijing. “If we don’t reach an agreement on TikTok, it doesn’t affect the overall relationship between the two countries. It’s still very good at the highest levels,” he added.
The outcome of the Madrid talks could shape the future of US-China trade relations and determine whether TikTok continues to operate freely in the American market.
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