TikTok Trade Tensions: Awaiting a Final Deal

U.S. Treasury Secretary Scott Bessent expects a final deal on TikTok to be announced when President Trump speaks with Xi Jinping. Amid negotiations in Madrid, a framework agreement was reached, potentially ending a trade war. Trump threatens to let TikTok go dark without U.S. ownership, extending deadlines multiple times.

U.S. Treasury Secretary Scott Bessent announced on Tuesday that he anticipates a final deal on the ownership of TikTok will be reached when President Donald Trump engages in talks with Chinese leader Xi Jinping on Friday.

This development follows intricate negotiations held in Madrid, where China presented a substantial list of demands. During the talks, both nations achieved a framework agreement after months of dialogue aimed at resolving a trade conflict that has destabilized global markets.

Bessent emphasized Trump's ultimatum, stating the President could let TikTok, with its 170 million U.S. users, cease operations if a U.S.-based ownership deal is not secured. Though Trump has prolonged the deadline multiple times, a new extension is expected shortly, as additional details on investor terms remain unresolved.

(With inputs from agencies.)