Key Points
- Trump said US–China talks “went very well” and signaled a deal on a “certain” youth-focused company.
- Treasury Secretary Scott Bessent said a TikTok framework would place the app under US-controlled ownership, pending Trump–Xi approval.
- The divestment deadline has been extended multiple times; the current deadline is Wednesday.
- Another short extension may be needed to finalize terms.
- Wider talks include fentanyl-related trade issues and planning for a possible Trump–Xi meeting.
- China’s regulator issued a preliminary antitrust finding involving Nvidia the same day talks wrapped.
What’s New
Former President Donald Trump said the latest US–China discussions “went very well” and indicated that a deal had been reached on a “certain” company popular with young Americans. He added he plans to speak with China’s President Xi Jinping this Friday.
Treasury Secretary Scott Bessent, who led the US delegation in Madrid, described a “framework” for TikTok that would put the platform under US-controlled ownership. He said the framework awaits confirmation by both leaders later this week and declined to share further details ahead of the scheduled call.
TikTok Timeline and Next Steps
The US has required TikTok’s owner, ByteDance, to divest its American operations or face a national ban. The administration has extended the deadline multiple times since January; the current deadline is Wednesday. Officials indicated one more brief extension may be necessary to finalize the framework but signaled there would be no series of rolling delays.
Broader US–China Talks Context
The meeting in Madrid followed earlier rounds in Geneva, London, and Stockholm. Separately, discussions are under way about a potential Trump–Xi meeting next month, with some officials preferring it occur on the sidelines of the APEC forum on October 31 in South Korea rather than in Beijing.
Negotiators remain divided over issues tied to fentanyl: the US seeks cuts to exports of precursor chemicals, while China is pressing on tariff relief linked to the same topic. A resolution on TikTok could remove one complication from the broader agenda even as other disagreements persist.
Regulatory Development in China
On the final day of talks, China’s State Administration for Market Regulation issued a preliminary antitrust finding that Nvidia did not fully comply with conditions set during its 2020 acquisition of Mellanox. US officials criticized the timing while discussions were ongoing. People familiar with the matter said the conclusion predated Madrid but the announcement was released that day.
What to Watch
- Whether Trump and Xi approve the TikTok framework on Friday.
- If the administration issues one last extension past Wednesday’s deadline to complete paperwork and approvals.
- Any movement on fentanyl-linked trade demands and meeting logistics for the leaders.
- Follow-on actions regarding China’s Nvidia finding and any reciprocal regulatory steps.
Related Coverage
- Idaho News – https://idahonews.co/idaho-news-3/
- National News – https://idahonews.co/national-news/
- Global News – https://idahonews.co/global-news/
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