BEIJING (Reuters) -China on Wednesday called the framework deal reached in Madrid to switch short-video app TikTok to U.S.-controlled ownership a “win-win” and said it would review TikTok’s technology exports and intellectual property licensing, in a state media editorial.

Investors on both sides of the Pacific are now waiting for a call scheduled for Friday between U.S. President Donald Trump and Chinese President Xi Jinping in which the agreement should be confirmed.

Progress over the popular social media app – which counts 170 million U.S. users – is seen as key to facilitating further talks in the coming months as the world’s two largest economies chart a path beyond their current tariff truce.

Reuters has reported that the deal, transferring TikTok’s U.S. assets to U.S. owners from

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