US and China May Extend Trade War Pause, Transfer TikTok to US Ownership

TaiwanPlus News

The US and China appear ready to extend a pause in their trade war and transfer ownership of TikTok from China to the US after two days of talks in Spain. Further details are expected Friday, when US President Donald Trump and Chinese President Xi Jinping will speak to each other.

Transcript

00:00Motorcades of Chinese and U.S. officials leave Spain's foreign ministry.

00:06It's the second day of talks here aimed at easing strained trade ties between the world's two biggest economies.

00:12And there are hints a sort of truce in the U.S.-China trade war could hold for now,

00:17with the U.S. postponing tariffs on China and China no longer blocking the flow of rare earths to the U.S.

00:23As you know, right now we have a 90-day pause in effect with respect to U.S. tariffs on China

00:29and Chinese severe controls on rare earth minerals.

00:32We have been renewing that pause periodically.

00:35The current pause is set to expire November 10th.

00:38We're certainly open to considering further action there if the talks continue in a positive direction.

00:45And there are signs a major point of friction between the two could get resolved.

00:52That is TikTok, the Chinese-owned app whose popularity in the U.S.

00:56has raised national security concerns in Washington.

01:01Both sides say they've started looking at transferring the app to U.S. ownership.

01:05U.S. President Donald Trump is pleased, saying the talks have gone

01:10very well, and that there's a deal on what he called a, quote,

01:13certain company young Americans had wanted saved.

01:28It all now rides on a scheduled call with China's President Xi Jinping on Friday.

01:31There are still sore points on both sides that could complicate talks.

01:33The United States is unhappy about Beijing's announcement Monday that U.S. chipmaker NVIDIA had violated antitrust laws,

01:40a move some in Washington see as hitting back at U.S. measures to rein in China's chip sector.

01:42The United States is unhappy about Beijing's announcement Monday that U.S. chipmaker NVIDIA had violated antitrust laws,

01:46a move some in Washington see as hitting back at U.S. measures to rein in China's chip sector.

02:03And China says the U.S. is using national security concerns as a pretext for curbing chip and other tech shipments to China,

02:10and banning Chinese goods it suspects could be used for spying.

02:16Still, the two sides have held meetings since May to try and patch up differences, and more could be on the way.

02:22We had very good discussions. We preferred to keep the discussions on TikTok.

02:28We will be holding trade negotiations in about a month, again, at a different location.

02:35But we talked about many things that we might do in the future.

02:40Opening up a chance to cool down a months-long trade war that sent jitters through markets around the world.

02:46Dolphine Chen and John Van Trieste for Taiwan Plus.

02:50I'm going to start where are sub follower and I'm going to start pulling together.

02:54We'll see you next time.

Category

Transcript

Be the first to comment

Recommended