&imwidth=800&imheight=600&format=webp&quality=medium "China calls TikTok deal with US a 'win-win': Can Trump and Xi finally end the TikTok standoff?")
China has described the framework deal reached in Madrid to transfer TikTok’s US operations to American ownership as a “win-win.” Chinese state media said that the agreement was built on “mutual respect, peaceful coexistence and win-win cooperation.”
Trump and Xi set for crucial call
Investors are watching closely as US President Donald Trump and Chinese President Xi Jinping are expected to confirm the deal in a phone call on Friday. The outcome could set the tone for further economic talks between the two powers.
What does the deal mean for TikTok?
The plan would transfer TikTok’s US assets from its Chinese parent company, ByteDance, to American owners. The app has more than 170 million users in the US, making the deal central to Washington’s demands for stronger local control.
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A repeat of an earlier deal
Reuters reported that the agreement is similar to one that was worked out earlier this year but abandoned after Trump imposed heavy tariffs on Chinese imports. The revived version is now seen as a key step to stabilise relations between the two nations.
China’s next steps
The Communist Party’s People’s Daily, writing under the byline “Zhong Sheng” or “Voice of China”, said Beijing would review TikTok’s technology exports and intellectual property licensing “in accordance with the law.” US Treasury Secretary Scott Bessent, who met Chinese negotiators in Madrid this week, said that the 17 September deadline could be pushed back by 90 days to allow the deal to be finalised.
