Trump, Xi approve TikTok deal, plan APEC Summit in South Korea

US President Donald Trump has said that he and his Chinese counterpart, Xi Jinping, have approved a deal on the future of TikTok’s operation in the US, adding that he will meet the Chinese President at a regional summit to take place at the end of October in South Korea. Trump announced that he would visit China early next year. The US President shared the developments on Friday (September 19) following a phone call with Xi.

Trump, in a post on Truth Social, also said that Xi would visit the US at an “appropriate time.” “The call was a very good one, we will be speaking again by phone, appreciate the TikTok approval, and both look forward to meeting at APEC!” stated Trump, referring to the Asia-Pacific Economic Cooperation, a grouping of 21 economies on the Pacific Rim.

Xi stresses US-China ties

During the call Xi stressed the significance of US-China bilateral ties and urged the US to avoid any unilateral trade restrictions, reported Xinhua.

This was the second call between the two leaders since Trump became the US President for the second time and slapped stiff tariffs on China that resulted in an exchange of trade restrictions between the two largest economies.

However, Trump has been willing to negotiate trade deals with Beijing, notably for TikTok, which faces a US ban unless its Chinese parent company sells its controlling stake.

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Talk on rare earth elements

Trump and Xi spoke to each other in June to defuse tensions over China's restrictions on the export of rare earth elements, used in everything from smartphones to fighter jets.

“I'm speaking with President Xi, as you know, on Friday, having to do with TikTok and also trade,” Trump said Thursday. “And we're very close to deals on all of it.”

Trump said that he has a “very good” relationship with China, but added that Russia’s war in Ukraine can be ended if European countries impose higher tariffs on China.

However, the US President did not make it clear if he planned to raise tariffs on Beijing over its purchase of Moscow's oil, as he has done with India.

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What the Chinese Embassy said

The Chinese Embassy in Washington on Thursday didn't confirm any upcoming summit between the leaders, but spokesperson Liu Pengyu said “heads-of-state diplomacy plays an irreplaceable role in providing strategic guidance for China-US relations.” Sun Yun, director of the China program at the Washington-based think tank Stimson Centre, predicted a positive discussion.

“Both sides have a strong desire for the leadership summit to happen, while the details lie in the trade deal and what can be achieved for both sides from the summit,” Sun said.

Efforts to finalise the TikTok deal. Following a US-China trade meeting earlier this week in Madrid, US Treasury Secretary Scott Bessent said the sides reached a framework deal on TikTok's ownership, but Trump and Xi likely would finalise it on Friday.

(With agency inputs)