China, US reach ‘framework’ on TikTok; Xi and Trump to speak on Friday
Trump says talks in Madrid went ‘VERY WELL’, with a potential deal on TikTok, but Beijing’s antitrust action against Nvidia injects a sour note
China has confirmed that a framework agreement has been reached with the United States on resolving TikTok-related issues, while stressing that the “hard-won” results should not be accompanied by continued “suppression” of Chinese companies.
“The two sides held candid and in-depth exchanges and reached a basic framework consensus on properly resolving relevant issues concerning TikTok through cooperation, on reducing barriers to investment and on promoting relevant trade and economic cooperation,” Li Chenggang, China’s international trade envoy, told reporters in Madrid on Monday.
China, US reach ‘framework’ deal on TikTok
He also called it “normal” for the two economic giants to “see frictions and differences”, but added that “the key is to respect each other’s core interests and major concerns and find proper solutions to the issues through dialogue and consultation”.
“We would like to stress that the outcomes of the trade and economic consultations are hard won, and the US side should not, on the one hand, ask China to accommodate its concerns, whilst at the same time continue to suppress Chinese companies,” Li said.
Wang Jingtao, deputy director of the Central Cyberspace Affairs Commission, offered some details, saying the framework resolves the TikTok issue “through such methods as entrusted operation of TikTok’s US user data and content security business as well as the licensed use of algorithm and other intellectual property right”.
When asked why China agreed to this framework, Li said the US side “expressed its willingness to move together with China in reducing investment barriers and promoting trade cooperation”.
However, the specifics of the framework agreement remain unclear, as it is not final until approved by Chinese President Xi Jinping and his US counterpart, Donald Trump.