President Trump has shared progress on trade relations in a latest post on Truth Social, hinting that a deal over TikTok may finally be within reach. This comes just days before the September 17 deadline for the app to meet U.S. ownership requirements.
“The big Trade Meeting in Europe between the United States of America, and China, has gone VERY WELL! It will be concluding shortly,” Trump said.
Trump also said that a deal had been reached involving a “certain” company popular among young Americans, and added that “they will be very happy” with the outcome. This was likely in reference to the dispute over TikTok, the social media app.
“I will be speaking to President Xi on Friday. The relationship remains a very strong one,” he added.
U.S Treasury Secretary Scott Bessent also confirmed that Washington and Beijing had reached a “framework” deal to address the long-running dispute over TikTok. He added that final details would be worked out after President Trump speaks with Chinese President Xi Jinping on Friday.
Talks between the United States and China began in Madrid on Sunday, with both governments confirming that economic and trade issues were on the table, including the ongoing dispute over TikTok.
Earlier, the U.S had warned that it might ban TikTok unless China eased demands on tariffs and tech rules for a divestiture deal. Bessent also said that more talks are likely in the coming days to resolve trade and economic issues.
It’s well known that trade relations between the two countries have been under heavy strain this year, with both sides imposing steep tariffs on each other’s goods.
The U.S. and China have agreed to extend their tariff truce for 90 days, preventing planned spikes in tariffs. President Trump signed an executive order suspending higher U.S. tariffs until November 10, 2025, while China also paused its planned extra tariffs and trade restrictions.
They have agreed to ease some of the strain by temporarily cutting duties, with U.S. tariffs on Chinese imports set at 30% and Chinese tariffs on American goods set at 10%.
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