Xi Jinping: China is open to resolving the "TikTok" issue based on market rules and balance of interests

Chinese President Xi Jinping confirmed that his country's position on the "TikTok" application is very clear, emphasizing that Beijing welcomes negotiations with the United States as long as they are based on market rules and the principle of balance of interests.

Xi's statements came during a phone call he had on Friday evening with U.S. President Donald Trump, at a time of escalating tensions in trade and strategic relations between the two countries.

The Chinese president said: "The Chinese government respects the company's wishes and supports its participation in trade negotiations in accordance with Chinese law, in an effort to reach a fair and balanced agreement."

U.S. Treasury Secretary Steven Mnuchin clarified that the call between the two presidents aims to finalize the terms of the agreement regarding "TikTok" operations in the United States. Trump has already announced that he has reached an understanding with Beijing regarding the future of the application.

It is worth noting that the U.S. Congress had mandated a ban on the application in the country starting January 2025, unless the Chinese company "ByteDance," which owns it, sells "TikTok" assets within the United States. However, the Trump administration avoided implementing the direct decision, amid fears of a negative reaction from the application's massive user base.

Despite the preliminary agreement, the details of the deal remain unclear, especially regarding the new ownership structure of the application, the extent of China's control over it, as well as Congressional approval. Reports indicate that the deal will transfer ownership of U.S. "TikTok" assets to local investors, while continuing to rely on "ByteDance" algorithms.