Washington and Beijing are nearing a historic settlement on 'TikTok'

After two days of intensive negotiations in Madrid, both the United States and China announced the reaching of a preliminary framework agreement regarding the future of the 'TikTok' application, which stipulates the transfer of ownership of the platform to an American party. It is expected that U.S. President Donald Trump and his Chinese counterpart Xi Jinping will finalize the details of the agreement during an anticipated phone call on Friday.

Trump stated via his platform 'Truth Social': 'The major trade talks in Europe between the United States and China are going very well, and we are about to finish. An agreement has been reached regarding a company that our youth strongly wanted to save, and they will be very happy.'

For his part, U.S. Treasury Secretary Scott Pisent clarified that the preliminary agreement stipulates that the ownership of 'TikTok' will be American, without disclosing further details about the identity of the new owner or the terms of the deal, indicating that this will be completed through the conversation between Trump and Xi.

This move comes after months of tension between Washington and Beijing over the application, as the U.S. administration demanded that the Chinese company 'ByteDance', which owns the application, relinquish its ownership in favor of non-Chinese investors before September 17, or else the application would face a complete ban in the United States, under a law passed by Congress in 2024.

The law aims to limit the ability of Chinese authorities to access the data of American users or influence public opinion trends through the platform's algorithms, despite Washington not providing compelling evidence to support these concerns.