Trump, Xi approve TikTok deal during phone call, agree to meet
US President Donald Trump said he and Chinese Premier Xi Jinping approved a deal on the future of TikTok’s American operations during a phone call on Friday, Kazinform News Agency correspondent reports.
Trump wrote in a Truth Social post that the Washington and Beijing had made progress on many very important issues.
The US President gave no further details on the agreement but said both leaders would meet at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea next month, with mutual visits to Washington and Beijing planned for early 2026.
According to Xinhua, Xi said China respects the company’s wishes and supports a solution in line with Chinese law, market rules, and the interests of both sides. The agency also quoted Trump as saying the United States hopes to deepen economic cooperation with China and work together to maintain world peace.
After the call, Trump told reporters in the Oval Office that the TikTok deal is “well on its way” and that “the investors are getting ready.” The precise structure of the divestiture remains unclear, but several major U.S. media outlets have reported that TikTok’s American operations are expected to be taken over by a consortium of investors, including technology giant Oracle Corp.
Washington and Beijing reached the framework agreement earlier this week after two days of negotiations in Madrid. Following this, Trump signed an executive order extending the deadline for ByteDance to divest its American operations.