The Latest Breaking News from Scott Bessent

President Donald Trump was ready to let TikTok "go dark" — and that hardball stance forced China back to the negotiating table, according to Treasury Secretary Scott Bessent. But while Washington debates national security, Wall Street is asking a different question: what does TikTok's uncertain fate mean for U.S. tech…

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The claim came as the US and China held trade talks in Madrid that concluded on Monday.

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The app would have gone dark if China’s ByteDance had not divested by Wednesday.

Washington and Beijing have reportedly agreed a framework for the US takeover of TikTok, with final confirmation expected this week as both governments seek to resolve national security concerns.

The announcement came on the second day of high-level negotiations led by Bessent and Chinese Vice Premier He Lifeng, aimed at easing wider trade tensions. The talks also cover disputes over tariffs, technology transfers and rare earth supply chains.

The index closed down 6.26 points, 0.1%, at 9,277.03.