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 the USA framed the dialog as “pragmatic, constructive and constructive,” neither facet walked away with a transparent breakthrough.
Neither Beijing nor Washington has launched additional particulars on the proposed deal. However in keeping with the Wall Road Journal, the association underneath dialogue would see Chinese language firm ByteDance divest management of TikTok to a brand new U.S. entity created to function the app. This consortium of recent buyers and present backers would personal round 80 p.c of the platform, with ByteDance possession falling beneath 20 p.c to adjust to U.S. regulation. Individuals accustomed to the talks instructed the Journal that it may take weeks for authorized issues 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 the USA framed the dialog as “pragmatic, constructive and constructive,” neither facet walked away with a transparent breakthrough.
Neither Beijing nor Washington has launched additional particulars on the proposed deal. However in keeping with the Wall Road Journal, the association underneath dialogue would see Chinese language firm ByteDance divest management of TikTok to a brand new U.S. entity created to function the app. This consortium of recent buyers and present backers would personal round 80 p.c of the platform, with ByteDance possession falling beneath 20 p.c to adjust to U.S. regulation. Individuals accustomed to the talks instructed the Journal that it may take weeks for authorized issues 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 concern that the app’s consumer knowledge could possibly be accessed by the Chinese language authorities, permitting Beijing to observe Individuals’ exercise and conduct affect operations. The place Trump himself stands on the difficulty is extra difficult, as he initially pushed to ban the app in the USA, solely to then use the app to attach with youthful voters throughout his reelection marketing campaign.
Beijing has additionally tried to border the TikTok deal as a win for Xi. Regardless that China can be shedding management over TikTok, consultants counsel that Xi can be gaining leverage for future offers with Washington, particularly over Trump’s tariff warfare and Chinese language tech ambitions; China and the USA are negotiating a broader commerce settlement centered on curbing fentanyl manufacturing and lowering excessive levies.
Learn extra in right now’s World Temporary: Trump, Xi Inch Nearer to a TikTok Deal.
This publish is a part of FP’s ongoing protection of the Trump administration. Observe alongside right here.
