While the United States and China are reportedly close, the two countries have yet to reach an agreement around the future of the ultra-popular social media platform, TikTok, and it’s just days before the deadline hits.
Officials from Washington and Beijing are in Madrid discussing the divestment from TikTok by its Chinese owner, ByteDance. The talks are part of a wide discussion on tariffs and economic policy between the two powers.
“Our Chinese counterparts have come with a very aggressive ask,” U.S. Treasury Secretary Scott Bessent said to reporters, per Reuters.
“We will see if we can get there at present. We are not willing to sacrifice national security for a social media app,” Bessent added.
Unless the social media app is transferred to U.S. ownership, TikTok faces the potential for a ban in the United States. Currently, a September 17 deadline looms that would see the app shut down in the United States; however, ongoing negotiations could see an extension granted.
According to Bessent, both sides have made meaningful progress on technical details. Still, reaching a final deal on other issues remains a challenge. He said that whether an extension is offered depends on how the talks progress.
“From the Chinese perspective, they view as part and parcel of the potential TikTok deal a variety of matters, whether it’s tariffs or other measures that have been taken over years,” U.S. Trade Representative Jamieson Greer said. “We still have to grind through negotiations and discussions of the common understanding, and I don’t think this is the moment to just pull all those things.”
Amid the ongoing trade tensions between the United States and China, experts doubt whether any major breakthroughs will be achieved in Madrid.
“I’m not expecting anything substantive between the United States and China unless and until there is a one-on-one meeting between Trump and (Chinese President) Xi,” said William Reinsch, a senior trade adviser at Washington think tank the Center for Strategic and International Studies.