The United States says it is very close to reaching an agreement with China over TikTok. US Treasury Secretary Scott Bessent revealed this on Monday, September 15, during trade talks in Madrid.
Bessent met with Chinese Vice Premier He Lifeng to discuss trade and technology issues that have caused tension between the two countries. The talks will continue until Wednesday, which is also TikTok’s deadline to either sell to a non-Chinese buyer or face a US ban.
Bessent told reporters that the TikTok deal is almost settled. He added that even if there is no final deal, relations between the US and China are still strong.
TikTok, owned by China’s ByteDance, has faced pressure in the US for years over national security concerns. A law demanding its sale or ban was supposed to take effect before Donald Trump’s inauguration. But Trump paused it and later gave TikTok 90 more days. That deadline ends this week.
Although Trump once supported banning TikTok, he later changed his mind. He believes the app helped him connect with young voters during the 2024 election.
China has urged the US to settle issues with “mutual respect” and to use dialogue instead of confrontation.
The Madrid talks also focus on tariffs. Earlier this year, both sides raised import taxes, which hurt global supply chains. Later, they reduced the rates, but the temporary truce will end in November.
China has also launched investigations into the US semiconductor industry. On Monday, Chinese authorities accused chip giant Nvidia of breaking antitrust laws, adding more tension to the tech battle between the two countries.
Despite these disputes, there are signs of better ties ahead. Officials from both countries have held several calls, and there are talks about a possible meeting between Donald Trump and Chinese President Xi Jinping. Trump has said he plans to visit China later this year or shortly after.
