US 'very close' to TikTok deal with China: US Treasury chief

The United States is "very close" to a deal with China to settle their dispute over TikTok, US Treasury Secretary Scott Bessent said Monday as the two sides resumed trade talk in Madrid. Bessent and Chinese Vice Premier He Lifeng opened the latest round of discussions in Madrid on Sunday, seeking to narrow differences on trade and technology that have strained relations between the world's two largest economies.

The meetings are expected to continue through Wednesday -- the deadline for TikTok to find a buyer or face a ban. "If they don't reach an agreement on TikTok, it doesn't affect the overall relationship between the two countries. It's still very good at the highest levels," he added.