Donald Trump’s effort to finalize a deal transferring TikTok from Chinese to U.S. control remains unsettled, despite a phone call on Friday between the U.S. president and China’s Xi Jinping — their first direct conversation since June.
Trump has claimed this week that Washington and Beijing agreed to terms for TikTok’s U.S. transition, but details remain vague. The Chinese readout of the call emphasized the importance of U.S.-China relations and reiterated Beijing’s stance: that companies should resolve commercial issues based on “market rules” and Chinese law.
“China’s position on the TikTok issue is clear,” the statement read. “The Chinese government respects the wishes of companies and welcomes them to reach solutions that comply with regulations and balance interests. China hopes the U.S. will provide an open, fair, and non-discriminatory environment for Chinese businesses.”
China described the call as “pragmatic, positive, and constructive.” Trump, meanwhile, posted on Truth Social that the discussion was “very productive,” noting progress on trade, fentanyl, the Russia-Ukraine war, and TikTok. He added that he and Xi will meet at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea this October, with plans to visit China early next year — though Beijing has not confirmed.
The TikTok negotiations this week took place in Madrid between U.S. Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng. Both sides agreed to a temporary pause in the trade war, with a deadline for a broader deal set for November 10.
The call came as Trump returned from a state visit to the U.K., where U.S. tech companies secured major investment commitments — including $30 billion from Microsoft and £11 billion from Nvidia.
U.S. tech firms remain at the center of U.S.-China tensions. Reports this week indicated Beijing ordered domestic companies to stop buying Nvidia semiconductors. While the U.S. already bans exports of Nvidia’s most advanced chips to China, the company had designed downgraded versions for that market.
The Chinese readout also noted Trump praised Beijing’s massive World War II commemoration parade — attended by Vladimir Putin and Kim Jong-un — calling it “magnificent.” Xi highlighted that China and the U.S. once fought side by side as allies during the war, describing their ties today as “the most important bilateral relationship in the world.”
