"The United States and China have reached a framework deal regarding TikTok, Treasury Secretary Scott Bessent said Monday. The agreement would allow the short-video sharing platform to continue operating in the United States. "The framework is for a switch to US-controlled ownership," Bessent told reporters in Madrid, following days of talks. He said US President Donald Trump and Chinese President Xi Jinping were scheduled to speak on Friday to "complete" the agreement."
""The two sides reached a basic framework consensus on resolving issues related to TikTok through cooperation, reducing investment barriers and promoting relevant economic and trade cooperation," Li was quoted as saying by Chinese state news agency Xinhua. "China will firmly safeguard the national interests, the legitimate rights and interests of Chinese enterprises," he added. The video platform is immensely popular among young people across the world, including in the US."
A framework deal between the United States and China would allow TikTok to continue operating in the United States under U.S.-controlled ownership. U.S. Treasury Secretary Scott Bessent reported the agreement and said Presidents Donald Trump and Xi Jinping were due to speak to complete the arrangement. China's Vice Minister of Commerce Li Chenggang confirmed a basic framework consensus emphasizing cooperation, reduced investment barriers, and promotion of economic and trade ties. China stated it will protect national interests and the legitimate rights of Chinese companies. U.S. lawmakers had threatened a ban unless ByteDance sold its controlling stake amid data and influence concerns, and a September 17 deadline was set to find a non-Chinese buyer.
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