Trump claims Xi Jinping endorsed TikTok agreement following a 'successful' conversation
In a recent phone call, U.S. President Donald Trump and Chinese President Xi Jinping discussed their upcoming meeting at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea on October 31, and Trump shared that Xi had approved a deal for U.S. firms to acquire TikTok's American operations.
During the conversation, Xi expressed optimism that both the U.S. and China could achieve "mutual success and shared prosperity." However, the discussion did not mention any specific American companies that could potentially acquire TikTok's American operations.
The conversation between the leaders focused on the trade relationship between the U.S. and China, and Xi urged the U.S. to refrain from imposing unilateral trade measures against China. Xi Jinping also reminded President Trump of the historical support China received from the U.S. during World War II.
President Trump described the call as "very productive" on trade, fentanyl, Ukraine, and the TikTok deal. He announced that Oracle, Silver Lake, Andreessen Horowitz, Dell Technologies led by Michael Dell, and Rupert Murdoch's Fox Corp, with Larry Ellison of Oracle playing a key role, are the U.S. companies set to take over TikTok's American operations. ByteDance, TikTok's parent company, would retain a minority stake.
However, Xi Jinping remained non-committal about confirming a TikTok deal, emphasizing that China respects the wishes of ByteDance. Xi did not directly comment on the TikTok deal in this paragraph, and the conversation did not discuss any plans for a future phone call or meeting between the two leaders.
Xi stated that business negotiations should align with market rules and Chinese regulations to balance interests. He did not mention any potential postponement or continuation of the potential TikTok ban, and the talks surrounding the sale of the platform to U.S. companies remain significant.
The U.S. was the subject of Xi's call for refraining from unilateral trade measures, not China. Xi did not comment specifically about the TikTok deal in this paragraph, and the conversation did not mention any specific American companies that could potentially acquire TikTok's American operations.
Trump has not confirmed the names of the American companies set to take over TikTok, and the details of the deal are still under negotiation. The conversation between Trump and Xi on the trade relationship between the U.S. and China will likely have far-reaching implications for both countries.
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