Trump Set to Hold Talks with Xi This Week
(MENAFN) US President Donald Trump announced plans for a phone conversation with Chinese President Xi Jinping later this week, aiming to finalize an agreement regarding the social media giant TikTok. Treasury Secretary Scott Bessent indicated that the two nations are close to closing a deal on the platform.
This development follows the latest round of tense US-China trade negotiations in Spain, which took place as relations between the two powers remain strained and the deadline for TikTok’s divestiture draws near. TikTok is owned by the Chinese company ByteDance, making the negotiations especially delicate.
Trump posted on Truth Social Monday, “I will be speaking to President Xi on Friday,” adding that the recent talks “has gone VERY WELL!” and “will be concluding shortly.” He also revealed that an agreement had been reached involving a “certain” company that many young Americans “very much wanted to save.”
Treasury Secretary Bessent told reporters in Madrid that both parties have agreed to a “framework for a TikTok deal,” with Trump’s upcoming call set to “complete” the arrangement.
China’s lead trade negotiator Li Chenggang confirmed that discussions had reached a “basic consensus” on TikTok-related matters, emphasizing Beijing’s commitment to its core principles and corporate interests while upholding “international fairness and justice.”
The announcement comes just days before the September 17 deadline, after which TikTok must either be sold or face a ban in the United States. This deadline is part of legislation passed last year that mandates ByteDance divest its TikTok ownership by January 2025. The app briefly went offline and was removed from app stores after missing the initial deadline. However, Trump, having recently resumed office, extended the deadline multiple times to keep TikTok accessible for its 170 million American users.
If finalized, this deal would resolve a long-running standoff over TikTok’s future. US officials have consistently raised national security concerns, alleging Beijing could misuse TikTok to collect sensitive data on American users—claims the company has consistently denied.
This development follows the latest round of tense US-China trade negotiations in Spain, which took place as relations between the two powers remain strained and the deadline for TikTok’s divestiture draws near. TikTok is owned by the Chinese company ByteDance, making the negotiations especially delicate.
Trump posted on Truth Social Monday, “I will be speaking to President Xi on Friday,” adding that the recent talks “has gone VERY WELL!” and “will be concluding shortly.” He also revealed that an agreement had been reached involving a “certain” company that many young Americans “very much wanted to save.”
Treasury Secretary Bessent told reporters in Madrid that both parties have agreed to a “framework for a TikTok deal,” with Trump’s upcoming call set to “complete” the arrangement.
China’s lead trade negotiator Li Chenggang confirmed that discussions had reached a “basic consensus” on TikTok-related matters, emphasizing Beijing’s commitment to its core principles and corporate interests while upholding “international fairness and justice.”
The announcement comes just days before the September 17 deadline, after which TikTok must either be sold or face a ban in the United States. This deadline is part of legislation passed last year that mandates ByteDance divest its TikTok ownership by January 2025. The app briefly went offline and was removed from app stores after missing the initial deadline. However, Trump, having recently resumed office, extended the deadline multiple times to keep TikTok accessible for its 170 million American users.
If finalized, this deal would resolve a long-running standoff over TikTok’s future. US officials have consistently raised national security concerns, alleging Beijing could misuse TikTok to collect sensitive data on American users—claims the company has consistently denied.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
- Bitmex And Tradingview Announce Trading Campaign, Offering 100,000 USDT In Rewards And More
- Japan Halal Food Market Size To Surpass USD 323.6 Billion By 2033 With A CAGR Of 8.1%
- Chicago Clearing Corporation And Taxtec Announce Strategic Partnership
- Red Lions Capital And Neovision Launch DIP.Market Following ADGM Regulatory Notification
- Poppy Seed Market Size, Share, In-Depth Insights, Opportunity And Forecast 2025-2033
- Pluscapital Advisor Empowers Traders To Master Global Markets Around The Clock
More Story
Comments
No comment