American and Chinese officials will continue their trade talks in Spain on Monday, bringing with them potential implications for TikTok and the trade war between the two dominant global economies. The discussions will be spearheaded by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.
The talks attempt to resolve the ongoing trade conflicts that have strained relations between Beijing and Washington. In July, both sides agreed to extend their truce on tariffs until November. This move stems from previous tensions where each nation had levied import taxes exceeding 100% on each other’s products.
Initially, former President Trump called for a TikTok ban during his tenure. However, his stance shifted, delaying the ban multiple times. In a recent statement to reporters, Trump mentioned that while it may still be banned or allowed to decline, the decision depends largely on China.
It is predicted that the current deadline for a TikTok resolution due this Wednesday could be extended for a fourth time. This comes after Trump contended that national security and privacy concerns tied to TikTok and its parent company, ByteDance, were “highly overrated.”
TikTok has amassed a considerable user base, boasting around 170 million users in the US alone. The video-sharing app stands as one of the world’s most popular social media platforms.
Beyond TikTok, this week’s discussions will lay preparatory groundwork for a potential meeting between Trump and Chinese President Xi Jinping as soon as October during a summit in South Korea.
The extended tariff truce offers additional time for negotiations aimed at addressing “unfair trade practices” and securing national interests, according to the White House.
Source: https://www.bbc.com/news/articles/cj9zedgkm21o?at_medium=RSS&at_campaign=rss
