US, China Close To Deal On TikTok As Madrid Talks Continue
The United States is close to finalising a deal with China over TikTok as both countries resumed trade negotiations in Madrid, US Treasury Secretary Scott Bessent has disclosed.
Bessent and Chinese Vice Premier He Lifeng began talks on Sunday, focusing on trade and technology disputes straining ties between the two largest economies.
The discussions are scheduled to run until Wednesday, the deadline for TikTok to secure a buyer or face a ban.
“On the TikTok deal itself, we’re very close to resolving the issue,” Bessent said at Spain’s foreign ministry.
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 Chinese firm ByteDance, has been under scrutiny in the US over national security concerns.
A federal law requiring its sale or ban was due to take effect before President Donald Trump’s inauguration on January 20, but the president paused the move.
Trump, who has said he likes TikTok and credited it for helping him gain young voters’ support in the 2024 election, extended the deadline in June by 90 days. That grace period expires on Wednesday.
Although Trump initially backed a ban or divestment, he later pledged to defend the app, which now has nearly two billion global users.
The Madrid talks also include discussions on Trump’s threat of higher tariffs on Chinese imports.
Earlier this year, tensions escalated with tit-for-tat tariffs hitting triple digits and disrupting supply chains.
Both sides later agreed to reduce duties to 30 percent on US goods and 10 percent on Chinese exports, but the temporary truce runs out in November.
AFP
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
