US President Donald Trump announced that he and Chinese President Xi Jinping made significant progress on a TikTok agreement. Additionally, they plan to meet in South Korea in six weeks to discuss trade, illicit drugs, and Russia’s war in Ukraine. This call marked the first conversation between the two leaders in three months, signaling a potential easing of tensions.
The leaders agreed to continue discussions during the Asia-Pacific Economic Cooperation (APEC) forum, which begins on 31 October in Gyeongju, South Korea. Trump also mentioned his upcoming visit to China early next year, with Xi expected to visit the US later.
TikTok Deal on Track
Trump confirmed that Xi approved the TikTok deal, stating, “The TikTok deal is well on its way.” He indicated that a formal signing might still occur. The two-hour call also touched on trade, fentanyl, and the ongoing Russia-Ukraine conflict. Trump noted, “I believe he would like to see it ended,” referring to Xi’s stance on the war.
Beijing’s approval of a framework deal is crucial for keeping TikTok operational in the US after the Congress mandated that the app must shut down for US users by January 2025 unless ByteDance sells its US assets. However, China’s statement did not confirm a formal TikTok agreement, despite Trump’s optimism.
Key questions about the deal remain, including the ownership structure and China’s control over the app’s operations. Trump assured reporters, “We’re going to have very tight control.” He hinted that the US government might take a fee for facilitating the deal, although negotiations are ongoing.
Economic Tensions Persist
Despite the ongoing negotiations, economic tensions between the US and China remain high. Trump has increased tariffs significantly since taking office, leading to reciprocal actions from China, with recent data indicating slowing economies in both nations, raising concerns about future trade relations.
The US continues to demand that China address the export of fentanyl-related chemicals, a major contributor to overdose deaths in the US. Meanwhile, regional tensions over Taiwan and the South China Sea persist, although these issues were not mentioned in the recent call.
In summary, while progress on the TikTok deal appears promising, significant challenges and uncertainties remain as both leaders prepare for their upcoming meeting.
