President Donald Trump announced plans to discuss with Chinese leader Xi Jinping on Friday, after recent negotiations between the world’s two largest economies led to a preliminary agreement allowing ByteDance Ltd.’s TikTok app to continue operating in the US.
President Trump via Truth Social:
The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! It will be concluding shortly. A deal was also reached on a “certain” company that young people in our Country very much wanted to save. They will be very happy! I will be speaking to President Xi on Friday. The relationship remains a very strong one!!! President DJT
Daniel Flatley, Olivia Tam, and Daniel Basteiro for Bloomberg News:
US Treasury Secretary Scott Bessent told reporters after Trump’s post — as discussions in Madrid wrapped up — that a framework to keep the TikTok app running in the US had been reached and that Trump and Xi would speak to complete the deal. The terms of the blueprint remain unclear.
“President Trump and party Chair Xi will speak on Friday to complete the deal, but we do have a framework for the deal with TikTok,” Bessent said. “I think the framework is for it to switch to US-controlled ownership.”
Trump and Bessent’s comments come ahead of a deadline this week to secure a deal that would divest TikTok’s American operations to comply with a US national security law.
High-level engagement between Washington and Beijing has kicked up a gear this month ahead of a potential in-person summit meeting between Trump and Xi when both are expected to attend an Asia Pacific Economic Cooperation forum in South Korea at the end of next month. Last week, Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth spoke with their Chinese counterparts.
MacDailyNews Take: Obviously, a U.S.-China trade deal will mean good things to Apple and the economy as a whole, as businesses will be able to plan – and hire! – with trade specifics in place.
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[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
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