Trump-Xi Talks In Focus, China To 'Review Tiktok Tech Exports, Intellectual Property Licencing'

(MENAFN- Live Mint) China said on Wednesday it would review TikTok's technology exports and intellectual property licensing, in an editorial in the ruling Communist Party's People's Daily.

"The reason China reached the relevant consensus with the United States on the TikTok issue is that it is based on the principles of mutual respect, peaceful coexistence and is in line with the interests of both sides," the article added.

The remarks came after US President Donald Trump said on Monday (local time) that the US finally has a deal with Chinese app TikTok.

Here's all the late st to know in US-China TikTok deal:

1. A deal has been reached between the Trump administration and China to keep TikTok operational in the US, administration officials announced on Monday, concluding a years-long effort that began during Trump's first term, CNN reported.

2. While talking to reporters ahead of his UK visit, Trump said that he will speak to Chinese President Xi Jinping. "We have a deal on TikTok. I've reached a deal with China. I'm going to speak to President Xi on Friday to confirm everything up," he said.

3. US Treasury Secretary Scott Bessent also said that a framework agreement has been reached, and Trump will speak with Chinese leader Xi Jinping Friday to finalise the deal. It would be the first direct engagement between Trump and Xi since June.

4. TikTok's American operations would be acquired by an investor consortium that includes Oracle Corp., Andreessen Horowitz and private equity firm Silver Lake Management LLC under a framework deal that Trump is set to discuss with Xi Jinping later this week.

5. According to Bloomberg, under the deal, ByteDance Ltd.'s stake in TikTok would be reduced to below 20% to satisfy a US national security law passed in 2024 requiring the Beijing-based company to divest or face a ban in the American market.

If completed, with the blessing of Trump and Xi, the transaction would allow the video-sharing platform to keep operating in the US and remove a sticking point in US-China relations.

6. Later Monday, Trump said there's no decision yet on whether Beijing would continue to have a stake in the new venture. But he said the TikTok negotiations“can maybe even bring us closer to China,” and hinted that he'll pursue a wider trade accord in contacts with Xi.

7. Wang Jingtao, a deputy director of China's Cyberspace Administration, said at a briefing the two sides had reached a basic consensus that includes licensing ByteDance algorithms and other intellectual property rights to the US business, and setting up secure oversight of US user data and content, according to the Xinhua News Agency.

8. The Chinese government will, according to the law, examine and approve relevant matters involving TikTok such as the export of technology and the licenses used in IP, Wang said.

9. Chinese representative,s during the meeting, also raised concerns about US sanctions and urged Washington to lift restrictions as soon as possible, Vice Minister Li said.

TikTok briefly went dark in the United States on January 18, the day before the Foreign Adversary Controlled Applications Act went into effect. But on January 19, one day before Trump took office for his second term, he said he would sign an executive action upon the beginning of his term that would ensure US companies would not be punished for hosting TikTok on their app stores or servers.

The executive order, signed on January 20, delayed for 75 days the enforcement of the law. Trump extended the deadline again in June. The deadline had most recently been extended to September 17, but Trump was widely expected to move the deadline again if a deal didn't come together in time, CNN reported.

(With inputs from Reuters)

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