US, China reach framework deal on TikTok

The Star

US and Chinese officials on Sept 15 said that they had reached a framework agreement to switch short-video app TikTok to US-controlled ownership that will be confirmed in a phone call between US President Donald Trump and Chinese President Xi Jinping on Sept 19.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00Thank you very much.

00:30We have a framework for a TikTok deal.

00:53The two leaders, President Trump and Party Chair Xi,

01:00will speak on Friday to complete the deal,

01:03but we do have a framework for a deal with TikTok.

01:08The getting to this framework was made possible by President Trump

01:12and the high regard that President Trump has for Party Chair Xi.

01:20So when the leaders have mutual respect, then the delegations have mutual respect.

01:28We had very good discussions.

01:31We preferred to keep the discussions on TikTok.

01:34We will be holding trade negotiations in about a month, again, at a different location.

01:40But we talked about many things that we might do in the future.

01:46We're not going to talk about the commercial terms of the deal.

01:49It's between two private parties.

01:52But the commercial terms have been agreed upon.

01:54We were very focused on TikTok and making sure that it was a deal that is fair for the Chinese

02:02and completely respects U.S. national security concerns.

02:06And that's the deal we reached.

02:07And, of course, we want to ensure that the Chinese have a fair investment environment in the United States,

02:11but always that U.S. national security comes first.

02:13As you know, right now we have a 90-day pause in effect with respect to U.S. tariffs on China

02:19and Chinese severe controls on rare earth minerals.

02:23We have been renewing that pause periodically.

02:26The current pause is set to expire November 10th.

02:29We're certainly open to considering further action there.

02:33If the talks continue in a positive direction, the United States is receiving rare earths much better than they were before.

02:40However, there's still work to be done there.

02:42Thanks very much.

02:43Hey, we're great.

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