The United States and China kicked off a new round of trade talks in Spain on Sunday.

China on Wednesday praised a preliminary agreement to shift TikTok’s US operations to American ownership, calling the deal a “win-win” outcome and pledging to review related technology exports and intellectual property licensing.

President Donald Trump's agreement with China that would keep TikTok operating in the United States, transferring its U.S. assets to U.S. owners from China's ByteDance, is similar to a deal worked out earlier this year,

President Trump’s potential deal to avoid a TikTok ban is taking shape – and with several prominent US tech and investor firms set to take majority control of the China-owned app.

Beijing has said the US spin-off of TikTok to be sold to American investors in a deal orchestrated by President Donald Trump will use parent company ByteDance’s Chinese algorithm. Wang Jingtao, deputy head of China’s powerful cyber security regulator,

The U.S. will go ahead with a ban on short-video app TikTok if China won’t drop demands for reducing tariffs and technological restrictions as part of a divestiture deal, a senior U.S. official with knowledge of negotiations said on Monday.