BEIJING
\nChina on Wednesday called the framework deal reached in Madrid to switch short-video app TikTok to U.S.-controlled ownership a \u201cwin-win\u201d and said it would review TikTok\u2019s technology exports and intellectual property licensing, in a state media editorial.
\nInvestors on both sides of the Pacific are now waiting for a call scheduled for Friday between U.S. President Donald Trump and Chinese President Xi Jinping in which the agreement should be confirmed.
\nProgress over the popular social media app – which counts 170 million U.S. users – is seen as key to facilitating further talks in the coming months as the world\u2019s two largest economies chart a path beyond their current tariff truce.
\nReuters has reported that the deal, transferring TikTok\u2019s U.S. assets to U.S. owners from China\u2019s Bytedance, is similar to an agreement worked out earlier this year, but which was shelved after Trump announced steep tariffs on Chinese goods.
\n\u201cChina reached the relevant consensus with the United States on the TikTok issue because it is based on the principles of mutual respect, peaceful coexistence and win-win cooperation,\u201d the official People\u2019s Daily said in a commentary.
\nThe article was signed \u201cZhong Sheng\u201d or \u201cVoice of China\u201d, a term the paper of the governing Communist Party uses to express views on foreign policy.
\n\u201cChina will review matters related to TikTok\u2019s technology exports and intellectual property licensing in accordance with the law,\u201d the commentary added.
\nAfter meeting with Chinese negotiators in Madrid earlier this week, U.S. Treasury Secretary Scott Bessent said a September 17 deadline that could have disrupted the app in the U.S. could be extended by 90 days to allow the deal to be finalised, without giving any further details.<\/p>\n","protected":false},"excerpt":{"rendered":"
BEIJING China on Wednesday called the framework deal reached in Madrid to switch short-video app TikTok to U.S.-controlled ownership a \u201cwin-win\u201d and said it would review TikTok\u2019s technology exports and intellectual property licensing, in a state media editorial. Investors on both sides of the Pacific are now waiting for a call scheduled for Friday between […]<\/p>\n","protected":false},"author":2,"featured_media":503504,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-503488","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world"},"yoast_head":"\n