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US Treasury Secretary Bessent: Trump willing to let TikTok deal go dark amid China trade talks - CNBC interview
ByAinvest
Tuesday, Sep 16, 2025 7:18 am ET1min read
US Treasury Secretary Bessent: Trump willing to let TikTok deal go dark amid China trade talks - CNBC interview
US Treasury Secretary Scott Bessent has indicated that the United States is nearing a resolution in its dispute with China over the short-video app TikTok. The latest round of trade discussions, held in Madrid, saw Bessent and his Chinese counterparts make progress on the issue, but no definitive agreement was reached.Bessent, who spoke to journalists upon arriving at Spain's foreign ministry for the second day of negotiations, stated that the TikTok deal is "very close to being resolved." He emphasized that a failure to reach an agreement on TikTok would not significantly impact the overall relationship between the United States and China. The talks, which have been ongoing since May, have focused on various issues, including TikTok, tariffs, and the economy .
The negotiations come amid an impending September 17 deadline for ByteDance, the parent company of TikTok, to sell its U.S. assets. President Donald Trump has repeatedly delayed the enforcement of this deadline, with the latest extension set for September 17. Trump has suggested that China could ultimately determine TikTok's fate, stating that the app's future is "up to China" .
Despite the progress made in Madrid, experts remain skeptical about the likelihood of a significant breakthrough. William Reinsch, a senior trade adviser at the Center for Strategic and International Studies, has noted that a one-on-one meeting between Trump and Chinese President Xi Jinping is the most likely outcome for substantial progress .
The talks in Madrid are part of a broader effort to resolve trade tensions between the United States and China. The two countries have been engaged in tit-for-tat measures, including tariffs and restrictions on rare earth exports. The negotiations in Madrid are expected to conclude quickly, with a potential news conference scheduled for Monday afternoon .
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