Donald Trump announced on Friday that Chinese president Xi Jinping had agreed to approve a deal over TikTok, though no specifics of the agreement or signing timeline were disclosed. The announcement followed a phone call between the two leaders, their first direct contact since June, amid heightened tensions over trade and technology.
Trump said earlier this week that Washington and Beijing had reached a deal to place TikTok’s US operations under American control, with Oracle among the investors in talks to take a significant stake. Reports suggest the framework is still incomplete, and negotiations continue over compliance with laws passed by Congress last year limiting Chinese ownership.
According to Chinese officials, Xi emphasized the importance of US-China relations, calling the conversation “pragmatic, positive, and constructive.” Beijing reiterated its stance that companies should negotiate freely under market rules, while urging the US to provide a fair business environment.
Trump described the call as “very productive,” noting progress on trade, fentanyl trafficking, the war in Ukraine, and the TikTok deal. He also confirmed plans to meet Xi at the Asia-Pacific Economic Cooperation summit in South Korea in late October, with a potential visit to China early next year.
The TikTok negotiations took place this week in Madrid between US Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng. Both sides agreed to pause their trade war ahead of a November 10 deadline for a broader deal.
The talks come against the backdrop of escalating restrictions on US and Chinese tech companies, including bans on high-end semiconductor sales. Despite the friction, both Trump and Xi signaled a desire to stabilize relations, with Beijing describing US-China ties as “the most important bilateral relationship in the world.”
