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The talks, expected to continue through Wednesday, come just ahead of a deadline for TikTok to find a non-Chinese buyer or face a ban in the US
TikTok, owned by China-based company ByteDance, has almost two billion global users, including many in the US. (Representative Image)
US Treasury Secretary Scott Bessent on Monday said the United States is “very close” to reaching a deal with China over TikTok as the two countries resumed trade talks in Madrid.
Bessent and Chinese Vice Premier He Lifeng opened the latest round of discussions on Sunday, aiming to ease tensions on trade and technology issues between the world’s two largest economies.
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The talks, expected to continue through Wednesday, come just ahead of a deadline for TikTok to find a non-Chinese buyer or face a ban in the US.
“On the TikTok deal itself, we’re very close to resolving the issue,” Bessent told reporters upon arriving at Spain’s foreign ministry for the second day of talks.
He added, “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.”
TikTok, owned by China-based company ByteDance, has almost two billion global users, including many in the US.
A federal law requiring TikTok’s sale or ban on national security grounds was due to take effect before US President Donald Trump’s inauguration in January. But Trump, who has relied heavily on social media in his election campaigns and expressed support for TikTok, paused the ban.
In June, Trump extended TikTok’s deadline to find a US buyer by another 90 days, with the current extension set to expire this Wednesday.
The talks also address wider trade issues, including US complaints about China’s failure to fully comply with agreements, particularly over export licences for rare earth materials vital to industries like automotive and defence.
China’s commerce ministry last week urged Washington to resolve disputes “through dialogue and find a solution to the problem”.
(With inputs from agencies)
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The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d…Read More
The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d… Read More
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