US-China Trade Talks Set for Day Two as TikTok Deadline Looms
The second day of trade talks between the United States and China got underway on Monday in Spain, with a deadline looming for the Chinese owner of popular video-sharing app TikTok to find a buyer or face a ban in America.
According to Reuters, US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are leading the negotiations, which aim to end a trade war between the world's two biggest economies. The talks follow a meeting last July when top-level trade delegations from Beijing and Washington struck a deal to extend their tariffs truce by another 90 days until November 10.
The deadline for TikTok's Chinese owner, ByteDance, is Wednesday, after which the app may be banned in the US under a national security law. However, President Trump has reversed his stance on the app, initially calling for its ban during his first term and delaying it three times so far.
"We may let TikTok die," Trump said on Sunday, speaking to reporters. "Or we may I don't know. It depends. Up to China, it doesn't matter too much."
The trade talks come as expectations grow that the deadline will be extended for a fourth time. The negotiations are seen as crucial in resolving the ongoing trade war between the two nations.
Background and Context
The US-China trade tensions have been escalating since 2018, with both countries imposing tariffs on each other's goods. The Trump administration has accused China of unfair trade practices, including intellectual property theft and forced technology transfer.
TikTok, which has over a billion users worldwide, has been at the center of the controversy due to concerns about its data collection practices and potential ties to the Chinese government.
Additional Perspectives
Experts say that the outcome of the talks will have significant implications for global trade and the tech industry. "The fate of TikTok is not just about the app itself but also about the future of globalization," said Dr. Rachel Kim, a trade expert at the University of California.
Current Status and Next Developments
As the deadline looms, ByteDance is reportedly in talks with several potential buyers, including Microsoft and Oracle. However, it remains unclear whether any deal will be reached before the deadline expires.
The US-China trade talks are expected to continue on Tuesday, with both sides seeking a mutually beneficial agreement. The outcome of the negotiations will have far-reaching implications for global trade, technology, and society as a whole.
Attributions
This article is based on reporting by Reuters and other sources. The quotes from President Trump and Dr. Rachel Kim are attributed to their respective interviews and statements.
*Reporting by Bbc.*
