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US and China make big breakthroughs in Tiktok Sale Saga when Trump announces business
The United States and China have agreed on a “framework” to resolve their dispute over Tiktok, as a deadline for time loops this week for the app to be sold or meet an American ban.
Madrid, Spain – US and China have agreed on a “framework” to resolve their dispute about TiktokLike a time -dead looming chairs this week for the Chinese owned app to sell or meet an American ban.
The US and China have satisfied themselves with a framework for the sale of Tiktok for a trolling deadline that would see the app banned in the United States. © Imago / Nurphoto
In a truth social post, president Donald Trump said that a deal was reached with a “certain company like young people in our country much wanted to save. They will be very happy!”
He added that he would talk to Chinese President Xi Jinping on Friday.
Treasury Secretary Scott Bessent announced the agreement after a second day of call With Chinese vice premiere he is Lifeng in Madrid, which also includes discussions about the wider USA-Porcelain Trade dispute.
“We have a framework for a Tiktok business,” Bessent told reporters, confirming that Trump and XI will speak on Friday to “complete” the agreement.
TikTok is owned by China-based Internet Company BytaDance.
A federal law that required TikTok’s sale or ban on national security grounds would come into force the day before Trump’s inauguration on January 20.
In mid -June Trump extended a deadline for the app with another 90 days to find a non-Chinese buyer or be banned in the United States. That extension will expire on Wednesday.
Trump optimistic for “very strong relationship” with China
Treasury Secretary Scott Bessent (3rd from L.) leads an American delegation negotiating with Chinese officials in Madrid, Spain. © Reutants
The Madrid conversations also cover Trump’s threat of steep customs duties on Chinese import.
In its truth Social Post on Monday, Trump said the meeting in Europe “has gone very well!” And added: “The relationship is still very strong !!!”
Trade voltages escalated sharply earlier this year, with tit-for-tolls that reach triple numbers and tangling delivery chains.
Both governments later agreed to lower their penalties, with the United States that introduced 30% customs on imports of Chinese goods and China that hit US products with a 10% fee, but the temporary and troubled arms care expires in November.
Top diplomats and defense managers from both nations held back-to-back phone calls last week, which analysts said could mark a step towards a meeting between Trump and XI.
Trump said in August that he expects to visit China this year or shortly thereafter and noted that economic ties between the two countries have improved.
