China and the United States have reached a basic agreement to settle the issue of the future activities of the Chinese social network TikTok in the United States and agreed to continue to use the consultation mechanism to resolve differences. This was reported by the Ministry of Commerce of the People’s Republic of China.
“The parties have reached a basic framework agreement on properly solving issues related to TikTok, reducing investment barriers and promoting the development of bilateral trade and economic cooperation”, the message says.
The agency clarified that in the near future the working groups of both governments will hold additional negotiations regarding the final documents and internal procedures for their coordination and approval.
During the negotiations, Minister of the State Council of the People’s Republic of China He Lifeng emphasized China’s unwavering determination to protect its legitimate rights and interests, particularly in the matter of TikTok, as well as support national companies in conducting equal negotiations with partners on a market basis.
“The essence of Sino-US trade and economic relations is mutual benefit and mutually beneficial results, both sides have a wide space for cooperation and significant common interests. “Cooperation between China and the United States is beneficial to both sides, while confrontation will also harm both,” the vice-premier emphasized.
He expressed the hope that the United States will also demonstrate a willingness to understand, cancel restrictive measures against Chinese companies as soon as possible and, together with Beijing, create favorable conditions for the stable development of bilateral economic relations.
We will remind you that last year the US Congress passed a law that provides for the possibility of banning TikTok in the country if the social network is not separated from the Chinese company ByteDance. The reason was suspicions that TikTok could transfer personal data of American users to China, which is considered a threat to national security.
