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lite.cnn.com - on gopher - inofficial
ARTICLE VIEW:
Trump says progress made with Xi to finalize a long-sought TikTok deal
By Clare Duffy, CNN
Updated:
4:06 PM EDT, Fri September 19, 2025
Source: CNN
President Donald Trump said at the conclusion of a call with China’s
leader Xi Jinping Friday morning that they had made progress to that
would sell most of TikTok’s US assets to . The deal would conclude a
yearslong effort that began during Trump’s first term and became a
key factor in broader negotiations between the United States and China
in recent months.
“We made progress on many very important issues including Trade,
Fentanyl, the need to bring the War between Russia and Ukraine to an
end, and the approval of the TikTok Deal,” Trump said in a on Truth
Social. “The call was a very good one, we will be speaking again by
phone, appreciate the TikTok approval, and both look forward to meeting
at APEC!”
Xinhua, a Chinese state media service, reported that Xi told Trump
“the Chinese government respects corporate decisions and welcomes
business negotiations that follow market rules and produce solutions
consistent with Chinese laws and balanced interests.”
CNN has asked the White House whether a TikTok deal has been approved.
“We thank President Xi Jinping and President Donald J. Trump for
their efforts to preserve TikTok in the United States,” a ByteDance
spokesperson said in a statement following the call. “ByteDance will
work in accordance with applicable laws to ensure TikTok remains
available to American users through TikTok U.S.”
On Monday, US Treasury Secretary Scott Bessent and Li Chenggang,
China’s vice minister of commerce, said that a framework TikTok sale
agreement had been reached during negotiations held in Madrid between
diplomats from both countries. The proposal would allow TikTok to
remain operational in the United States. Former President Joe Biden
signed a bipartisan bill passed by Congress that went into effect on
January 19 banning TikTok unless it ceded control of at least 80% of
its assets to US operators. But Trump multiple times paused the ban as
his administration sought a sale via a deal with China.
Neither side has disclosed terms of the agreement. But sources familiar
with the framework said the proposal would involve investments from a
number of US-based venture capital firms, private equity funds and tech
companies. Among the investors, who would hold the majority stake in
the company, are Oracle, Andreessen Horowitz and Silver Lake, the
sources said. Chinese investors would own the remaining 20% of the
company.
The new consortium would be operated by a majority-US board, including
a member appointed by the Trump administration. on details of the
framework.
“Any details of the TikTok framework are pure speculation unless they
are announced by this administration,” a senior White House official
told CNN. TikTok and its parent company ByteDance have not responded to
CNN’s requests for comment about the status of a deal.
One big question about the deal remains: What will happen to TikTok’s
algorithm? The algorithm, which determines what users see on their
“For You” feeds, is considered the special sauce that has made the
app so popular. China has long indicated that it would not allow the
algorithm to be sold as part of a deal. But the US law prohibits “any
cooperation” between the possible new, American entity and
Chinese-based ByteDance with respect to the algorithm — potentially
leaving the new owners to try to recreate the technology themselves,
something TikTok’s rivals have long struggled to do.
The agreement and conversation was a precursor to a Trump-Xi meeting
that both sides have sought for months, US officials said Monday after
the framework plan was announced. Without a TikTok deal in place, a
meeting between Trump and Xi wouldn’t be possible, US officials said.
Trump on Friday said the two leaders will meet at the upcoming APEC
summit in South Korea next month, and Trump will visit China early next
year. The leaders also agreed that Xi would come to the United States
“at the appropriate time,” Trump said.
China, up until this point, has been hesitant to allow ByteDance to
give up its US stake. But as trade tensions between the companies
reached an inflection point in the spring and continued throughout the
summer – evidenced by China’s announcement Monday that – Chinese
authorities apparently decided that it should play ball.
The bulk of the deal — organizing an American-led investor group to
buy TikTok’s US assets – had been completed by April, Bessent said
Monday. But then Trump’s massive “Liberation Day” tariffs went
into effect, effectively putting an embargo on all Chinese goods, and
TikTok talks entered a standstill. After tariffs were brought lower and
talks between the US and China resumed, Bessent said both Trump and Xi
expressed interest in re-engaging on TikTok discussions. But key
details needed to be ironed out, including addressing US national
security concerns and China’s willingness to approve the deal.
TikTok in the United States on January 18, the day before the Foreign
Adversary Controlled Applications Act went into effect. But on January
19, one day before Trump took office for his second term, he said he
would sign an executive action upon the beginning of his term that
would ensure US companies would not be punished for hosting TikTok on
their app stores or servers.
The law gives the president broad discretion on how to enforce the ban,
and Trump has pushed back the enforcement date four times — most
recently to mid-December. But critics have said Trump’s extensions
thwarted the will of Congress.
Trump toward the end of his first term had advocated for banning TikTok
— a policy he never got passed but which Biden eventually supported
and signed into law. But Trump’s opinion eventually changed after he
viewed the social media app as contributing to his election victory in
2024.
TikTok boasts around 170 million US users, many of them young people
— a contingent that offered significantly more support to the
Republican presidential candidate in the 2024 election than that
segment of the population has in recent years. Trump has repeatedly ,
but no breakthrough emerged until Monday.
CNN’s Yong Xiong, Betsy Klein, Alayna Treene and Kevin Liptak
contributed to this report.
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