The United States and China are nearing a deal regarding the short-video app TikTok, according to Treasury Secretary Scott Bessent. Talks continue in Madrid to ease trade tension, even if no agreement on TikTok’s Chinese divestment is reached.
Bessent noted that high-level relations between the U. S. and China remain strong. This round of talks is the fourth in four months and took place at Spain’s foreign ministry, lasting about six hours without a breakthrough on the first day.
Bessent acknowledged good progress on technical details but mentioned that other issues may be more difficult to address. He remarked that the Chinese side has made strong demands and emphasized that national security cannot be compromised for a social media app.
The discussions have involved topics like TikTok, tariffs, and the economy, with future actions depending on the outcomes of negotiations. Greer pointed out that while the TikTok issue may be resolved, it is linked to other matters that require further discussion.
Delegations led by Bessent and Chinese Vice Premier He Lifeng have held meetings in European cities since May to address the trade tensions that led to U. S. tariffs on Chinese goods and China’s retaliatory measures, including high import duties and a halt on rare earth exports to the U. S. Their last meeting in Stockholm in July resulted in a 90-day trade truce, which lowered tariffs and resumed rare earth exports from China.
Expectations for a significant outcome in Madrid are low, with many anticipating only an extension of the deadline for TikTok’s Chinese owner, ByteDance, to divest its U. S. operations by September 17 or face a shutdown. Experts believe that real progress will likely require a one-on-one meeting between Trump and Xi. China’s agreement to such a meeting may depend on the outcome of talks, especially regarding U. S. export controls on high-tech goods.
The Chinese embassy in Madrid hinted at a quick conclusion to the talks, and Bessent plans to meet with British Finance Minister Rachel Reeves in London before Trump’s state visit with King Charles.
With information from Reuters
