Regarding the discussion of selling TikTok's U.S. business rights during a phone call between the U.S. and Chinese leaders, ByteDance, TikTok's parent company, said it will carry out related work in accordance with Chinese law.
ByteDance released this position in the early morning of the 20th (local time) on its social media (SNS) account, shortly after the contents of the currency between U.S. President Donald Trump and Chinese President Xi Jinping were announced.
ByteDance said, "We appreciate President Xi and President Trump's attention to TikTok," adding, "We will promote related work in line with China's legal requirements, and ensure that TikTok's U.S. company can continue to serve many U.S. users well."
Amid concerns that TikTok could be used by the Chinese government to steal personal information or carry out hacking, the U.S. Congress enacted the "TikTok ban law" last year, which bans TikTok service in the United States unless TikTok's U.S. business rights are sold to U.S. corporations.
President Trump delayed the enforcement of the law and has been negotiating with the Chinese side for U.S. corporations to acquire a controlling equity stake in TikTok, and reached a broad agreement at the high-level U.S.-China talks held in Madrid, Spain, on the 15th.
After the currency, President Trump met with reporters and, when asked who owns TikTok's algorithm, said, "We are working it all out," adding, "We will have very strong control."
According to Xinhua News Agency, President Xi said, "China's position on the TikTok issue is clear," adding, "The Chinese government respects the will of corporations." He continued, "We welcome corporations conducting commercial negotiations on a foundation that conforms to market rules and arriving at a solution that complies with Chinese laws and regulations and strikes a balance of interests."