President Donald Trump said he will talk to Chinese President Xi Jinping this week about a possible TikTok agreement. “I will be speaking with President Xi on Friday,” Trump wrote on his social media platform, Truth Social.
TikTok deal
A few days ago, representatives from the United States and China met to engage in trade negotiations in Madrid, where the talk centered on TikTok, which is owned by Chinese tech company ByteDance.
“We have established a framework for TikTok with China,” U.S. Commerce Secretary Scott Bessent said following the meeting, as reported by Reuters. The framework lays out a plan for TikTok to transition to American-controlled ownership, said Jemieson Greer, who was part of the talks.
The U.S. Congress has insisted that TikTok must find new owners to keep operating in the country, citing national security concerns over Chinese ownership. Bessent said final details of the deal were expected to be settled during a Friday call between Trump and Xi.
Trump also hinted at progress in a post on Truth Social, writing: “It has gone very well. We have also reached an agreement regarding a certain company that young people in our country really wanted to save.
They will be very happy.” Since Trump returned to the White House earlier this year, the two countries have fought ferocious tariff battles. But the tariffs are on hold during negotiations.