US Bessent: Made good progress on technical details with China

• Bessent: Trump has great respect for Xi
• Bessent: Chinese counterparts have an ‘aggressive ask’
• Bessent: We are not willing to sacrifice national security
• US Trade Representative Greer: We are close to resolving the TikTok issue with China
• US Trade Representative Greer: We want to maintain a good relationship with our Chinese counterparts
• Bessent: If no TikTok agreement, it won’t affect overall relations

The US and Chinese representatives are in Madrid for trade talks at the moment. Tariffs and TikTok are on the agenda. As a reminder, the tariffs truce between the US and China expires on November 10, so we will likely get more such “trade talks”. If they fail, there are high chances that the deadline will just be extended once again.

Regarding TikTok, the social media app is facing the possibility of a ban in the US, although Trump delayed the ban several times already. The deadline is for Wednesday but it’s highly likely that it will be extended again.

This article was written by Giuseppe Dellamotta at investinglive.com.