TikTok deal could depend on trade concessions, Reuters reports

The U.S. and China are nearing an agreement on TikTok, but a deal could depend on Chinese demands for trade concessions, U.S. Treasury Secretary Scott Bessent says, Reuters’ David Lawder and Pietro Lombardi report. The U.S. and China delegations are discussing the divestment from TikTok by Chinese owner Bytedance as part of broader talks on tariffs and economic policy. “Our Chinese counterparts have come with a very aggressive ask,” Bessent told reporters alongside U.S. Trade Representative Jamieson Greer. Publicly traded companies in the social media space include Meta Platforms (META), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).