US Treasury Anticipates TikTok Final Deal After Trump And Xi Talks

JAKARTA- US Treasury Secretary Scott Bessent said Tuesday, September 16, that he anticipated a final deal on the short video app TikTok when US President Donald Trump spoke with Chinese leader Xi Jinping on Friday, September 12.

"China has a long list of requests during this week's talks in Madrid," Bessent said. He described the negotiations as thorough and respectful.

Both sides on Monday 15 September said they had reached an agreement framework after months of talks between the world's two largest economies to defuse trade wars that have rocked the global market.

Bessent said Trump had confirmed that he would let TikTok, which has 170 million users in the US, stop operating if there was no agreement to switch to US-controlled holdings.

However, Trump has extended the deadline for reaching the deal three times and is expected to do so for the fourth time on Wednesday's deadline.

"Details regarding commercial terms with new investors still need to be resolved," Bessent said, but he declined to provide further explanation.