China Says It Will Work With U.S. On TikTok’s Future, Stops Short Of Endorsing Trump’s Spin-Off Plan

Benzinga

Beijing signaled willingness to work with Washington on TikTok’s U.S. future but stopped short of backing Trump’s proposed ByteDance spin-off. The plan would reduce ByteDance’s stake below 20%, giving American investors control and potentially easing U.S.-China tensions over data security and ownership.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Beijing said it will work with Washington on TikTok's U.S. future,

00:05but did not confirm agreement to Trump's proposed ByteDance spinoff deal,

00:08that according to Bloomberg.

00:10China's Commerce Ministry stated that it's committed to properly resolving issues

00:13related to the app, but offered no details.

00:16President Trump proposed a deal requiring ByteDance to spinoff TikTok's U.S. operations

00:20into a company majority owned by American investors,

00:23reducing ByteDance's stake to under 20% to meet national security rules.

00:27They've approved a deal with ease tensions between the U.S. and China,

00:30but strip ByteDance to control over its most valuable global asset.

00:34For all things money, visit Benzinga.com.

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