The United States announced a “framework” deal with China on Monday to resolve their dispute over Tiktok, since a deadline looms up for the app in Chinese this week to be sold or an American ban can be confronted.
In a post on social media, US President Donald Trump said – without calling the social media giant directly – that a deal was reached with a “particular company that young people in our country really wanted to save. They will be very happy!”
Trump added his truth social network that he would speak with Chinese President Xi Jinping on Friday.
US Treasury Secretary Scott Bessent announced the agreement after a second day of conversations with the Chinese Vice Prime Minister He Lifeng in Madrid, who also includes discussions about the wider trade dispute in the US china.
“We have a framework for a Tiktok deal,” Bessent told reporters, adding that Trump and XI will speak on Friday to “complete” the agreement.
Tiktok is owned by the China -based internet company Bytedance.
A federal law that required the sale or ban of Tiktok on national security grounds would take effect on the day before the inauguration of US President Donald Trump on January 20.
But the Republican, whose election campaign from 2024 was highly dependent on social media and he said that he loves Tiktok, put the ban on a break.
In mid-June, Trump expanded a deadline for the popular app for sharing videos to find a non-Chinese buyer or to be banned in the United States. That extension will come off on Wednesday.
Although Trump had long supported a ban or disinvestment, he reversed his position and promised to defend the platform – which has nearly two billion worldwide users – after he had started to believe that it helped him to win the support of young voters in the November elections.
Shaky armor
The Ministry Van Beijing commerce called Washington on Friday to “work with China on the basis of mutual respect and equal consultation, to resolve each other’s concerns through dialogue and a solution to the problem”.
The conversations in Madrid also cover the threat of Trump of steep rates for Chinese import.
In his truth social post on Monday, Trump said that the meeting in Europe “went very well!” And added: “The relationship remains a very strong !!!”
Trade tensions escalated sharp earlier this year, with Tit-for-Tat rates that reached triple figures and growing supply chains.
Both governments later agreed to reduce their punitive rates, whereby the United States imposes 30% tasks on the import of Chinese goods and China that touched American products with a levying of 10%, but the temporary ceasefire proceeds in November.
The commercial law in the US-China has been uncomfortable, accusing Washington Beijing of violating their agreement and the slow-walking export license approval for rare earths.
China is the world’s leading producer of rare earths, used to make magnets essential for the car, electronics and defense industry.
Nvidia -probe
China launched two studies into the American semiconductor sector on Saturday.
Beijing opened an anti-dumping probe in some integrated circuit chips from the United States, said the Ministry of Trade in a statement.
The ministry also said in a separate statement that it will start an investigation into whether the United States had discriminated against the Chinese chip sector.
And on Monday, China said that an investigation discovered that the American chip giant Nvidia had walked the antitrebred rules of the country and promised an extra probe.
The statement did not give any further details about the alleged legal violations of Nvidia or the further probe.
Beijing – who announced the investigation in December – is currently working on an intense competition with the United States for Supremation in the critical area of semiconductors.
Top diplomats and defense leaders from both countries held back-to-back phone calls last week, which analysts said they could mark a step towards a meeting between Trump and XI.
Trump said in August that he expects he will visit China this year or shortly thereafter, and notes that the economic ties between the two countries have improved.
