Trump, Xi Report Progress Toward TikTok Deal
President Donald Trump said Friday that he and Chinese President Xi Jinping had made progress on a deal to transfer most of TikTok’s US assets to American investors, potentially ending years of uncertainty over the app’s future.
The talks
Trump posted on Truth Social that the call covered trade, fentanyl, the war in Ukraine, and the TikTok deal, describing the conversation as “very good.” Chinese state media reported Xi emphasized that any agreement must follow market rules and Chinese law.
Negotiators from both countries confirmed earlier this week that a framework sale agreement had been reached, involving US-based investors such as Oracle, Andreessen Horowitz, and Silver Lake. Chinese investors would retain about 20% ownership.
Key issues
-
A majority-US board would oversee the new entity.
-
The app’s powerful algorithm remains unresolved — China has resisted allowing its transfer, while US law bars cooperation between the new entity and ByteDance.
-
TikTok and its parent company have not publicly commented on the framework.
The bigger picture
TikTok has 170 million US users and has become a flashpoint in US-China relations. A sale is also seen as a condition for Trump and Xi to meet at the APEC summit in South Korea next month. Both leaders signaled plans for reciprocal visits in 2025.
While details remain unclear, analysts say the outcome could reshape global tech regulation and signal whether Washington and Beijing can manage disputes over digital security and trade.
