Trump, Xi claim progress toward TikTok ownership deal

President Donald Trump on Friday said he and Chinese leader Xi Jinping made progress on a deal to bring the TikTok social media app under U.S. control. He appreciated the approval of the deal, he said, though he did not release further details. The two also advanced negotiations on trade and the Russia-Ukraine war. They agreed to meet at an October economic summit in South Korea and to visit one another’s countries next year, he said.

Congress last year passed a law banning the TikTok app’s use in the United States unless it became American-owned by January 2025. Legislators worried that TikTok gave the Chinese Communist Party access to American users’ data. President Donald Trump extended the deadline for enforcement of the law four times through executive orders, with the latest extension lasting until Dec. 15.

What did the Chinese government say about the conversation? China respected the wishes of TikTok’s parent company, ByteDance, and would be happy to see continued negotiations. A solution should comply with China’s regulations and take into account the interests of both sides, according to a government statement. The United States needed to provide a fair environment for Chinese investors, and should drop unilateral trade restrictions, the government said.

What did ByteDance say about the deal? The company on Friday thanked both Xi and Trump for their work on an agreement. ByteDance would cooperate with applicable laws and keep the app available to American users through TikTok U.S., it said in a statement.

Dig deeper: Read Carolina Lumetta’s story on the White House’s recent return to TikTok and ensuing safety concerns.