US President Donald Trump teased the possibility of a TikTok deal with China on Monday following a trade meeting between the two countries. Officials confirmed that a framework agreement had been struck to switch the popular short-video app to American ownership without divulging details. The POTUS will now iron out additional details during a call with Xi Jinping on Friday.
“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” he wrote on Truth Social.
U.S. Trade Representative Jamieson Greer said the team was “very focused on TikTok and making sure that it was a deal that is fair for the Chinese” but also “completely respects U.S. national security concerns.”Wang Jingtao, deputy director of China’s Central Cyberspace Affairs Commission, told reporters in Madrid there was consensus on authorization of “the use of intellectual property rights such as (TikTok’s) algorithm” — a main sticking point in the deal. The sides also agreed on entrusting a partner with handling U.S. user data and content security, he said.
Trump had launched a tariff war on Chinese goods in April. A fresh round of negotiations is likely to happen “in the coming weeks” with both governments planning for a possible summit between Trump and Xi later this year or early next year to solidify a trade agreement.