Key Facts
• September 15: US Treasury Secretary Besent held ministerial talks with China in Madrid.
• Agreement reached on TikTok framework, paving way for US ownership transfer.
• September 19: President Trump to meet Chinese President Xi Jinping for detailed discussions.
• Trump described trade talks with China as “extremely successful.”
• TikTok ownership transfer is part of broader US-China trade negotiations.
Summary
On September 15, US Treasury Secretary Besent announced an agreement with China on a framework concerning the Chinese-owned video-sharing app TikTok. The agreement, reached during ministerial talks in Madrid, opens the possibility of transferring TikTok’s ownership to the United States. President Trump is set to meet Chinese President Xi Jinping on September 19 to finalize details. Trump previously described the ongoing trade negotiations with China as highly successful, hinting at progress on the TikTok issue. This development marks a significant step in US-China trade relations.
