The US and China are close to reaching an agreement on the social media platform TikTok, but the deal may depend on China's demands for trade concessions, US Treasury Secretary Scott Bessent said on Monday before the start of the second day of negotiations in Madrid, UNN reports with reference to Reuters.
Details
US and Chinese delegations are discussing the sale of TikTok by the Chinese company Bytedance as part of broader negotiations on tariffs and economic policy.
"Our Chinese counterparts have come up with a very aggressive proposal," Bessent said.
"We'll see if we can get there at this time. We are not prepared to sacrifice national security for a social media application," he said.
On Sunday, US and Chinese officials, led by Vice Premier He Lifeng, concluded the first day of talks in Madrid, focusing on strained trade relations, the approaching deadline for the sale of TikTok assets, amid Washington's demands for its allies to impose tariffs on imports from China over the purchase of Russian oil.
TikTok could be banned in the US if it does not come under American ownership. The most likely outcome of the Madrid talks is another extension of the deadline set for TikTok owner ByteDance to sell its US assets by September 17, otherwise it faces a shutdown in the US, the publication writes.
The latest round of talks between the US and China, taking place at the Palacio de Santa Cruz, home to Spain's Ministry of Foreign Affairs, is the fourth in four months.
Bessent said both sides had made significant progress on technical details, but reaching an agreement on other issues would be challenging.
He said an extension of the deadline for the sale of TikTok would largely depend on how Monday's talks go.
"From China's perspective, they view a variety of issues as integral to a potential TikTok deal, whether it's tariffs or other measures taken over the years," said US Trade Representative Jamison Greer, who was present at the talks.
But the United States is not in a position to simply undo every measure it has ever taken to try to address the problem, he added.
"We still need to go through negotiations and discussions of a common understanding, and I don't think now is the time to just withdraw all these measures," he said.
Chinese Foreign Ministry spokesman Lin Jian said China had no new information.
"Regarding TikTok, China has repeatedly stated its position," Lin said at a press conference in Beijing on Monday.
Trump announced talks with China on TikTok deal05.07.25, 12:51 • [views_2187]