Of their first telephone name since June, U.S. President Donald Trump and Chinese language President Xi Jinping haggled on Friday over the ultimate particulars of a long-anticipated TikTok deal. Though the Chinese language ambassador to america framed the dialog as “pragmatic, optimistic and constructive,” neither aspect walked away with a transparent breakthrough.
Neither Beijing nor Washington has launched additional particulars on the proposed deal. However based on the Wall Street Journal, the association underneath dialogue would see Chinese language firm ByteDance divest control of TikTok to a brand new U.S. entity created to function the app. This consortium of latest traders and present backers would personal round 80 % of the platform, with ByteDance possession falling beneath 20 % to adjust to U.S. legislation. Individuals acquainted with the talks instructed the Journal that it may take weeks for authorized considerations to be addressed.
Of their first telephone name since June, U.S. President Donald Trump and Chinese language President Xi Jinping haggled on Friday over the ultimate particulars of a long-anticipated TikTok deal. Though the Chinese language ambassador to america framed the dialog as “pragmatic, optimistic and constructive,” neither aspect walked away with a transparent breakthrough.
Neither Beijing nor Washington has launched additional particulars on the proposed deal. However based on the Wall Street Journal, the association underneath dialogue would see Chinese language firm ByteDance divest control of TikTok to a brand new U.S. entity created to function the app. This consortium of latest traders and present backers would personal round 80 % of the platform, with ByteDance possession falling beneath 20 % to adjust to U.S. legislation. Individuals acquainted with the talks instructed the Journal that it may take weeks for authorized considerations to be addressed.
Such a TikTok deal would mark a win for China hawks within the U.S. Congress and the Trump administration, who’ve expressed worry that the app’s person information may very well be accessed by the Chinese language authorities, permitting Beijing to watch Individuals’ exercise and conduct affect operations. The place Trump himself stands on the difficulty is extra sophisticated, as he initially pushed to ban the app in america, solely to then use the app to connect with younger voters throughout his reelection marketing campaign.
Beijing has additionally tried to border the TikTok deal as a win for Xi. Although China could be dropping management over TikTok, specialists suggest that Xi could be gaining leverage for future offers with Washington, particularly over Trump’s tariff warfare and Chinese language tech ambitions; China and america are negotiating a broader trade agreement centered on curbing fentanyl manufacturing and lowering excessive levies.
Learn extra in at the moment’s World Transient: Trump, Xi Inch Closer to a TikTok Deal.
This put up is a part of FP’s ongoing protection of the Trump administration. Observe alongside here.
