Trump declares plans for a trip to China, celebrating the allegedly favorable arrangement of the TikTok deal
In a significant development, US President Donald Trump and Chinese counterpart Xi Jinping held their second conversation since Trump returned to the White House and imposed tariffs on China. The discussion, described as "very good" by Trump, covered several important issues, including trade, fentanyl, the Ukraine conflict, and the TikTok deal.
Following the conversation, the Chinese embassy in Washington released a statement, pushing back on Trump's comments about a TikTok deal. The embassy stated the need for an open, fair, and non-discriminatory environment for Chinese investors. TikTok, however, did not immediately respond to a request for comment.
The parties involved in negotiations over the sale of TikTok's US operations include ByteDance and a consortium of existing ByteDance investors such as Susquehanna International Group, General Atlantic, KKR, Andreessen Horowitz, Oracle, and Silver Lake. Interest has also been shown by companies like Amazon and Microsoft. The deal, described as a private agreement between two parties, has US officials including Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer involved in discussions with Chinese officials.
The Supreme Court has ruled against TikTok, finding the ban constitutional. Despite this, TikTok continues to show no signs of reducing its US presence, with at least 10 job openings posted on its website. The Chinese President, Xi Jinping, emphasized the importance of bilateral ties and urged the US to avoid unilateral trade restrictions, as reported by Xinhua.
In other developments, Trump announced a planned visit to China early next year. Xi Jinping's visit to Washington is scheduled for an unspecified "appropriate time". The leaders are also expected to meet at an Asian summit next month, specifically at the Asia-Pacific Economic Co-operation (APEC) in South Korea.
Progress on a deal to keep TikTok operating in the US was also mentioned by Trump. However, it is not clear if Xi Jinping has fully approved a deal for China-owned ByteDance to divest its US TikTok operations. The TikTok case is currently being challenged in the Supreme Court.
As the conversations between the two leaders continue, the future of US-China relations and the fate of TikTok in the US remain uncertain. Both parties will be closely watched as they navigate these complex issues.
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