U.S. President Donald Trump is set to hold a call with Chinese President Xi Jinping on Friday (September 19) to confirm a framework agreement to switch short-video app TikTok to U.S.-controlled ownership.
After a meeting with Chinese officials in Madrid, U.S. Treasury Secretary Scott Bessent said a September 17 deadline that could have disrupted the popular social media app in the U.S. encouraged Chinese negotiators to reach a potential deal.
China’s top trade negotiator, Li Chenggang, said the two sides had reached a “basic framework consensus” on resolving TikTok-related issues – a slight variation from the language used by the U.S. side.
The potential deal on the popular social media app, which counts 170 million U.S. users, was a rare breakthrough in months-long talks between the world’s No. 1 and No. 2 economies that have sought to defuse a wide-ranging trade war that has unnerved global markets.
Trump has repeatedly expressed interest in a meeting with Xi, and China is trying to woo Trump to Beijing for a summit. Bessent said it was up to the leaders to discuss whether to meet during Friday’s call.
About the Author
