U.S. Treasury Secretary Scott Bessent expressed confidence on Tuesday, anticipating a final resolution regarding the short-video application, TikTok, following an upcoming discussion between President Donald Trump and Chinese leader Xi Jinping on Friday.
During high-stakes negotiations in Madrid this week, China presented a comprehensive list of requests, which Mr. Bessent characterized as thorough and conducted with mutual respect.
Earlier in the week, both nations announced a framework agreement had been reached after months of intense talks. These discussions aimed to de-escalate a wide-ranging trade dispute between the world’s two largest economies, a conflict that has caused significant instability in global markets.
Mr. Bessent reiterated that President Trump had made it unequivocally clear that TikTok, which boasts 170 million users in the United States, would cease operations without an agreement to transition to U.S.-controlled ownership. Despite this firm stance, President Trump has already extended the deadline for such a deal three times and was expected to grant a fourth extension ahead of the impending Wednesday deadline.
While declining to provide specific details, Mr. Bessent indicated that the commercial terms with new investors still require further refinement.