Overview

• Reports tied to high-level trade talks in Madrid indicate Washington plans another reprieve beyond the September 17 divest-or-shutdown deadline for ByteDance.
• U.S. Treasury Secretary Scott Bessent said the government has a framework for a TikTok deal, signaling movement after months of limited progress.
• The prospective extension is linked to meetings involving U.S. officials Scott Bessent and Jamieson Greer and Chinese officials He Lifeng and Li Chenggang.
• President Trump indicated he will speak with China’s Xi Jinping on Friday, and Bessent said the leaders could finalize a TikTok agreement in that conversation.
• An earlier plan to spin off TikTok’s U.S. business stalled after new U.S. tariffs, and any transfer of the app’s core technology would require Chinese government approval.