Today, US Treasury Secretary Scott Bessent said the United States is “very close” to a deal with China to settle their dispute over TikTok. The news comes as both countries are on their fourth round of trade talks in Madrid.
Bessent stated, “we’re very close to resolving the issue, even 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”.
Bessent made the comments after Chinese Vice Premier He Lifeng opened the latest round of discussions on Sunday, seeking to narrow differences on trade and technology.
The US-China talks are expected to go on until Wednesday, which is the deadline for Tiktok to find a buyer or face a US ban.
TikTok faces potential shutdown as early as September 17 in the US unless it transfers to US ownership.
The two countries are negotiating divestment from Bytedance, with the US ready to move forward with the ban if China refuses to drop demands for higher tariffs and more technology restrictions.
By CEO NA Editorial Staff
