Trump and Xi Jinping, China's leader, to convene in South Korea within the upcoming month
In a series of recent developments, US President Donald Trump and Chinese President Xi Jinping have held discussions on a variety of pressing matters, including trade, the TikTok deal, and geopolitical issues.
Last Friday, Xi Jinping and Trump had a phone call, which both parties described as positive. Trump suggested after the call that the TikTok deal had been approved, but no confirmation was given by Beijing. The US-China negotiations on their trade relationship, including tariffs and mutual trade restrictions, were also part of the discussion.
The US consortium involved in the potential acquisition of TikTok's US business includes Oracle, Andreessen Horowitz, and Silver Lake. This consortium has been in negotiations with the Chinese company ByteDance for the sale of TikTok's US operations. The Chinese government emphasises the need for an open, fair, and non-discriminatory business environment for Chinese companies investing in the US.
Xi Jinping warned the US against adopting "unilateral trade restriction measures," while Trump signalled earlier this week that the call would seal an agreement on the sale of TikTok to an American consortium. Beijing described the call between Xi Jinping and Trump as "pragmatic, positive, and constructive." Trump also confirmed that he will meet Xi next month at an Asia Pacific Economic Co-operation (APEC) summit in South Korea and will visit China early next year.
The Chinese government's position on TikTok is that the Chinese government respects the will of businesses, welcomes sound commercial negotiations, and seeks solutions that comply with Chinese laws and regulations. The negotiations over the TikTok issue are ongoing, with the focus on reaching solutions that comply with Chinese laws and regulations and achieve a balance of interests. The deadline for completing the TikTok deal has been postponed until the middle of December.
In addition to the TikTok deal, the US has limited exports of advanced semiconductors to China, and China has introduced an export licensing system for rare earth minerals. The Trump administration has threatened to shut down TikTok in the US unless its Chinese owner ByteDance agrees to divest its American operations. The US government has also introduced a national security law that TikTok must comply with.
On the geopolitical front, Trump and Xi discussed the need to bring the war between Russia and Ukraine to an end. The details of their discussion on this matter were not disclosed, but it is clear that the US and China are seeking to play a role in resolving this ongoing conflict.
As these discussions continue, it remains to be seen how the TikTok deal and other issues between the US and China will be resolved. Both parties have expressed a desire to find solutions that are mutually beneficial and comply with the laws and regulations of both countries. The upcoming meetings between Trump and Xi, including the APEC summit in South Korea, will likely provide further insight into the progress of these negotiations.
