China, US reach basic framework consensus on TikTok in latest talks

The Chinese and US delegations engaged in candid, in-depth and constructive communication on economic and trade issues of mutual concern, including TikTok, a senior Chinese official said in Madrid on Monday, the Xinhua News Agency reported on Monday.

The two sides fully recognize that a stable China-US economic and trade relationship is of great significance to both countries and also has a major impact on global economic stability and development, said Li Chenggang, China international trade representative with the Ministry of Commerce and vice minister of commerce, at a briefing.

Regarding the TikTok issue, China has always opposed politicization, instrumentalization and weaponization of technology and economic-trade matters and will never seek to reach any agreement at the expense of principles, interests of companies, or international fairness and justice, Li said.

China will firmly safeguard the national interests, the legitimate rights and interests of Chinese enterprises, and carry out technology export approval in accordance with relevant laws and regulations, Li said.

Photo: Xinhua

According to Li, China and the US have reached basic framework consensus on resolving issues related to TikTok through cooperation. 

China and the US will make full use of bilateral economic and trade consultation mechanism to build consensus, reduce misunderstandings, inject greater stability into bilateral ties and world economy, said the China international trade representative. 

The remarks were made as Chinese delegation held press conference on Monday in Madrid following economic, trade talks with the US team on Sunday and Monday.

According to Xinhua, during economic and trade talks between the Chinese and US delegations, Chinese Vice Premier He Lifeng said in Madrid Monday that China's determination to safeguard its legitimate rights and interests is unwavering.  

The Chinese side will resolutely protect the national interests and the legitimate rights and interests of Chinese-funded enterprises overseas, He said. 

He urged the US side to walk with China in the same direction, and lift the relevant restrictions on China as soon as possible. The vice premier also called on the US side to take concrete actions to jointly safeguard the hard-won achievements of the talks, and continuously create a favorable atmosphere for the stability of China-US economic and trade relations.

The highly anticipated Madrid talks suggest that, although differences remain on certain trade issues, China and the US are working to establish a regular channel for dialogue and consultation, a Chinese analyst said, noting that this not only helps maintain stability in relations between the world's two major economies but also provides clearer expectations and confidence for global markets.

The talks between Chinese and US negotiators in Madrid reflect a joint effort to stabilize trade relations between the two major powers. It is a positive development for both countries and the global markets, Bao Jianyun, dean and professor of the Department of International Politics at the School of International Studies at Renmin University of China, told the Global Times on Monday.

For TikTok, the latest framework is particularly good news for the US market and its consumers, where the platform—one of the world's most popular—is especially beloved by young people, Bao said. That said, it is important for the US to fully respect the wishes of businesses and provide them with a fair business environment based on market principles.

However, for further major progress to be made in future talks, US measures, including unilateral actions such as export controls targeting China, should be lifted, Bao said, urging the US to show greater sincerity and meet China halfway in future trade talks.

The China-US talks in Madrid have attracted widespread attention, with many watching closely to see the two countries' next moves.

One report by the BBC highlighted that "The negotiations are the latest attempt to end a trade war between the world's two biggest economies."

The latest talks in Madrid mark the fourth round of bilateral meetings in four months, following their trade talks in Geneva in May, London in June and Stockholm in July.

The meeting in Madrid came just a month after China and the US released a joint statement following their economic and trade meeting in Stockholm on August 12, which said the US will extend the tariff suspension on China for another 90 days and China likewise will continue to suspend its earlier tariff hike on US goods for 90 days.

Sincerity needed

While the Madrid talks reflect another joint effort by both sides to resolve trade disputes through consultation, more work is needed, especially from the US, which needs to move away from its unilateral approach and mindset before expecting more meaningful progress to be made with China, its major trading partner, Huo Jianguo, vice chairman of the China Society for World Trade Organization Studies in Beijing, told the Global Times on Monday.

The US has long pursued measures aimed at curbing China with politically driven and unilateral motives, and such actions have continued in recent days, as Huo noted.

Recently, the US urged the G7 and NATO to impose tariffs of 50 to 100 percent on China, citing China's purchase of Russian oil, in an attempt to pressure Beijing to play a role in ending the Russia-Ukraine conflict. Responding to a media inquiry for comment over this matter, a MOFCOM spokesperson said on Monday that China has consistently opposed the use of so-called "Russia-related" reasons to impose trade restrictions on China. 

On Friday, just days before the trade talks, the US Commerce Department announced it was adding multiple Chinese entities to the "Entity List" of export controls for so-called national security reasons.

On Saturday, China initiated a comprehensive anti-discrimination investigation by law into US unilateral actions against China in the integrated circuit sector.

The US must abandon its unilateral pressure and cannot continue negotiating while simultaneously imposing various forms of containment and suppression, which is not a proper way to conduct international relations, especially with its major trading partners such as China, He Weiwen, a senior fellow at the Center for China and Globalization, told Global Times on Monday, noting that the trade policies are not producing win-win outcomes, including for the US itself.

The unilateral trade policies have already had a major impact on the US' own economy, as media reported.

The US President Donald Trump's tariffs have added pressure on inflation, which remains elevated, the New York Times reported on Sunday.

Another report by the Financial Times said that "the American industries most exposed to trade turmoil have slammed the brakes on hiring and in many cases begun to lay off workers, causing growth in the US labour market to grind to a halt." 

A recent report by CNN also stressed that "From clothing to auto parts to electronics and more, tariffs are making everyday items cost more at a time when the labor market is looking increasingly fragile."

Facts repeatedly underscore that unilateral tariff policies bring no benefit to bilateral trade and are detrimental not only to the global economy but also to the US itself, He Weiwen said. While the China-US talks in Madrid sent a positive signal at a time when the world badly needs predictability and certainty, achieving meaningful results will still require the US to abandon its unilateral measures against China and to refrain from negotiating while simultaneously imposing various forms of pressure, the expert said, noting that Washington needs to demonstrate sincerity in trade talks by meeting China halfway.

(Global Times)