TLDR
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Trump confirms Xi Jinping approved TikTok deal; final signatures pending for US-China resolution.
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TikTok deal: ByteDance to sell US ops to American investors, with China’s approval.
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Trump and Xi to meet at APEC summit to discuss trade, security, and Ukraine conflict.
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US retains control over TikTok’s algorithm as part of deal addressing national security concerns.
US President Donald Trump recently confirmed that Chinese President Xi Jinping has approved the long-discussed deal concerning TikTok’s US operations. This announcement followed a phone call between the two leaders, during which they addressed key issues like trade, fentanyl trafficking, and the ongoing war in Ukraine. The confirmation of the TikTok deal signals significant progress in resolving the tensions between the US and China surrounding the app’s operations.
Leaders Prepare for Face-to-Face Meeting at APEC Summit to Discuss Major Global Issues
Trump and Xi are scheduled to meet in person at the upcoming Asia-Pacific Economic Cooperation (APEC) summit in South Korea next month. This will be their first in-person meeting since Trump’s return to office.
The APEC summit offers an opportunity for both leaders to discuss critical global issues such as international trade, security, and the future of TikTok. Trump mentioned that they would also address the conflict in Ukraine, the fentanyl crisis, and trade negotiations between the two countries.
The planned meeting highlights the ongoing dialogue between the US and China. Trump noted that the summit would allow them to continue discussing critical matters, including the TikTok situation. He expressed optimism about the upcoming face-to-face discussions and the broader range of topics that will be covered.
Details of the TikTok Deal and What’s Still Left to Finalize Between the US and China
While President Xi Jinping has officially approved the TikTok deal, it still requires final signatures to be fully completed. Trump confirmed that the deal was progressing well and expressed confidence that it would soon be finalized.
The deal involves the sale of TikTok’s US operations to American investors, addressing national security concerns about the app’s Chinese ownership. Oracle Corp. and Andreessen Horowitz are reported to be involved in the deal, with ByteDance, TikTok’s parent company, maintaining a minority stake.
Trump emphasized that the US would retain “tight control” over TikTok’s algorithm to address concerns over data security. Although the deal’s specific terms remain confidential, it is expected to satisfy both US national security concerns and Chinese business interests. Trump indicated that China was open to allowing the deal to progress, marking a shift in the negotiation dynamics.
China’s Cautious Approach to the TikTok Deal and Broader US-China Trade Relations
During the call, Xi urged Trump to avoid further trade restrictions, stressing the importance of maintaining a fair business environment for Chinese companies in the US. While China’s official readout of the conversation did not specifically address TikTok, it reiterated Beijing’s commitment to respecting business interests while managing trade relations with the US.
The call also touched on broader issues, including the war in Ukraine, trade relations, and the impact of US export controls on Chinese companies. Despite ongoing challenges, both leaders expressed optimism about finding solutions through continued dialogue. However, the call made it clear that while progress on TikTok is promising, other trade matters remain unresolved and will require further negotiations.
