China has asked the United States to consider the balance of interests in the TikTok deal. The country reaffirmed its position to the global powerhouse on Saturday, a day after its president Donald Trump said progress was being made to move the app into the hands of American owners.
China’s Commerce Ministry was clear in its demands, noting that its previous stance remains unchanged. “China’s position on TikTok is clear: The Chinese government respects the wishes of the enterprise, and welcomes it to carry out commercial negotiations in accordance with market rules to reach a solution compliant with China’s laws and regulations, and strikes a balance of interests,” the ministry said.
The comments come after Trump and Jinping spoke at length on the phone on Friday. The outcome of the discussions is seen as integral, and it’s not just for the TikTok deal, but for broader trade talks. The video-sharing app has over 170 million users in the United States, with its fate linked to potential compromises in other areas such as agriculture and aviation, as the world’s top two economies seek to battle it out after their tariff standoff.
China wants the United States to match its efforts
In its statement, China mentioned that it hopes the United States will match its efforts. “It is hoped that the U.S. side will work towards the same goal as China, earnestly fulfil its corresponding commitments, and provide an open, fair, equitable and non-discriminatory business environment for the continued operation of Chinese enterprises in the U.S., including TikTok,” the statement said.
Earlier in the week, officials from both countries announced that they had reached a framework agreement during meetings in Madrid. Chinese state media called the outcome a win-win situation, noting that it will keep to its promise of reviewing TikTok’s technology exports and licensing of intellectual property. The arrangement addressed one of the conditions set by United States lawmakers.
Congress has mandated that TikTok be blocked in the country by January 2025 unless the Chinese parent company, ByteDance, divests its American operations. Trump pushed the deadline until December 16. When asked about what they had gained from the talks in Madrid, He Yadong, a spokesperson for the Commerce Ministry, repeated Beijing’s call for the United States to lower barriers for Chinese companies.
Americans set to assume control of TikTok
According to the White House, the new deal will give Americans the majority stake in TikTok’s US operations. Press Secretary Karoline Leavitt told Fox News on Saturday that six of the seven seats on TikTok’s board would go to American representatives, and the platform’s algorithm would also be controlled in the United States. “The final deal will be signed in the coming days,” Leavitt said.
Leavitt also noted that American appointees moving to the board would have experience in national security and cybersecurity. ByteDance, which will select the remaining board member, will not have access to the security committee. Talks in Madrid earlier in the week, led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, produced the outline of this agreement. Details have not been made public. Trump and Xi gave their approval during their call on Friday.
Under the new plan, ByteDance will keep less than 20% stake in TikTok. New investors is expected to include Oracle Corp., venture capital firm Andreessen Horowitz, and Silver Lake Management LLC, a private equity firm, a senior White House official said. Oracle will serve as TikTok’s security partner to make sure the app meets US standards. The official explained that data from American users will be stored in the US and kept out of reach of Chinese authorities.
