US President Donald Trump is set to speak with Chinese President Xi Jinping on Friday to finalize a deal on TikTok, following recent trade talks in Spain.
Treasury Secretary Scott Bessent confirmed that a framework for the TikTok agreement has been reached, with the call expected to complete the deal. The discussion comes as the US faces a September 17 deadline for Tik, or risk a ban, due to a law requiring ByteDance to divest its ownership by January 2025. Trump has extended the deadline multiple times since returning to office, ensuring the platform remains accessible to its 170 million American users.
China’s top trade negotiator, Li Chenggang, stated that the talks reached a ‘basic consensus’ on TikTok, emphasizing that Beijing would not compromise its principles or corporate interests. If finalized, the deal would conclude a long-standing dispute over the app’s future, with US officials claiming security risks, while TikTok has denied these allegations.
Trump’s comments on Truth Social highlight the significance of the agreement, stating that the meeting ‘has gone VERY WELL!’ and ‘will be concluding shortly.’ He added that a deal was reached on a ‘certain’ company that young Americans ‘very much wanted to save.’ The announcement comes ahead of the September 17 deadline for TikTok to be sold or face a ban, which stems from a law passed last year requiring ByteDance to divest its ownership by January 2025. The app briefly went offline and was removed from stores after missing that deadline. However, Trump, who had then just returned to office, granted TikTok more time, pushing the cutoff back and since extending the deadline multiple times to keep the platform accessible to its 170 million American users.
US officials have long alleged that TikTok poses a national security risk, claiming Beijing could exploit the platform to obtain sensitive data on Americans – accusations the company has denied. The deal is seen as a significant step in resolving the ongoing dispute, with both sides aiming to find a solution that balances national security concerns with the continued operation of the app in the United States.
With the September deadline approaching, the outcome of the call between Trump and Xi could have significant implications for TikTok’s future and the broader US-China trade relationship. The resolution of this issue may also impact other areas of economic cooperation between the two nations, as the agreement could serve as a model for addressing similar disputes in the future.