Agreement between China and the USA regarding TikTok
China and the United States have reached a basic agreement on the future operation of the Chinese social network TikTok in the USA. The parties plan to continue consultations to resolve remaining differences, as reported by the Chinese Ministry of Commerce.
«The parties have reached a basic framework agreement on properly addressing issues related to TikTok, reducing investment barriers, and promoting the development of bilateral trade and economic cooperation», - said in a statement.
Working groups from both governments plan to hold additional negotiations regarding the final documents and internal procedures for coordination and approval.
Emphasis on cooperation and mutually beneficial relations
China has reaffirmed its readiness to protect legitimate rights and interests regarding TikTok. At the same time, the country will support its national companies in conducting equal commercial negotiations on market principles. Vice Premier He Lifeng emphasized the importance of mutually beneficial outcomes in trade and economic relations between the countries.
«Cooperation between China and the United States is beneficial for both sides, while confrontation will also harm both», - emphasized the vice premier.
The USA is expected to demonstrate readiness for understanding and lift restrictive measures against Chinese companies. Both parties plan to create favorable conditions for the stable development of trade and economic ties.
The agreement between China and the USA regarding TikTok is a step toward further cooperation and resolving differences in trade relations between the countries, which will contribute to market stability and development.