US, China Nearing Agreement on TikTok as Trade Talks Resume in Madrid

The United States is on the verge of finalizing a deal with China over TikTok, US Treasury Secretary Scott Bessent announced Monday during trade negotiations in Madrid. The discussions, led by Bessent and Chinese Vice Premier He Lifeng, began on Sunday and will run through Wednesday — the deadline for TikTok to secure a buyer or face a ban in the US.

Bessent told reporters that progress was being made on the TikTok issue but emphasized that the app’s future would not define the broader relationship between Washington and Beijing. “On the TikTok deal itself, we’re very close to resolving the issue,” he said, noting that bilateral ties remain strong at top levels despite ongoing disputes.

TikTok, owned by Chinese tech firm ByteDance, has been at the center of a heated national security debate in the US. A federal law mandating either the sale or ban of the app was delayed earlier this year by former President Donald Trump, who later extended the compliance deadline by 90 days. That extension runs out this Wednesday. Trump, once a strong supporter of a ban, shifted stance after the 2024 election, crediting TikTok with boosting his appeal among younger voters.

Alongside the TikTok dispute, talks in Madrid also touch on broader trade tensions, including Trump’s threats of steep tariffs on Chinese imports. Earlier this year, tit-for-tat tariff hikes pushed rates into triple digits before both sides agreed to temporarily reduce duties. That truce, however, is set to expire in November, raising fresh concerns over global supply chains.