US and China close to TikTok deal, but it could depend on trade concessions, Bessent says

US Treasury Secretary Scott Bessent looks on while walking, on the day of US-China talks on trade, economic and national security issues, in Madrid, Spain, September 15, 2025. -- Photo: REUTERS/Violeta Santos Moura

MADRID (Reuters): The United States and China are close to reaching an agreement on social media platform TikTok but a deal could hinge on Chinese demands for trade concessions, US Treasury Secretary Scott Bessent said on Monday before entering a second day of talks in Madrid.

The US and China delegations are discussing the divestment from TikTok by Chinese owner Bytedance as part of broader talks on tariffs and economic policy.