The United States and China have reached an initial agreement on the future of TikTok after intense trade negotiations held in Madrid, senior US officials announced on Monday, just two days before the deadline for the video platform to cease operations in the United States.
Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer confirmed that a deal was reached that “respects American interests and security” but “is also fair to the Chinese side,” though they declined to disclose specific details of the agreement.
Bessent added that the deal will be finalized in a call on Friday between US President Donald Trump and China's Xi Jinping.
Trump had earlier celebrated the progress of the talks via his Truth Social platform, writing: “The big trade meeting in Europe between the United States of America and China went VERY WELL! It will soon conclude. Also, an agreement was reached on a ‘certain’ company that the young people of our Country really wanted to save. They will be very happy!”
Trump had also announced that he would hold a telephone conversation with Xi Jinping next Friday, assuring that “the relationship remains very strong!” between the two nations.
Trade delegations from Washington and Beijing met in the Spanish capital over the weekend for their fourth round of negotiations, seeking to resolve disputes over tariffs, export controls, and the future of TikTok. The meeting takes on particular significance as it comes just two days before a legal deadline for Chinese company ByteDance to sell TikTok or face a ban in the United States.
The negotiations took place in the context of the tariff extension agreed in August, which extended the suspension of new taxes until November and reduced existing tariffs to 30% for Chinese goods and 10% for US goods.
On Sunday, Trump had conditioned TikTok's future on China's decisions."Maybe we'll let it die, or maybe... I don't know, it depends," he told reporters, highlighting the uncertainty surrounding the negotiations.
Trump's position on TikTok has evolved significantly since his first term, when he openly criticized the company. He now champions using the platform as a tool to connect with younger voters, which explains his reference to a company that"the young people of our country really wanted to save."
The preliminary agreement comes at a critical time, with a Wednesday deadline for ByteDance to complete the sale of TikTok or face an outright ban in the US market, where the app has more than 150 million active users.
