President Donald Trump and Chinese leader Xi Jinping failed to fall into a final agreement on Tiktok over a call Friday, but the two have made great strides towards the deal, White House officials told CNBC’s Eamon Javers.
Later on Friday, Trump was in an oval office and said that Tiktok’s deal was “as you know, investors are preparing” and “going well.”
“We have to sign it,” he said.
The much-anticipated remarks by White House officials came after Trump and Chinese state media issued a duel reading of their conversations and unclear the status of the deal on the popular video app.
“I have just completed a very productive call with Chinese President XI. I have made progress on many very important issues, such as trade, fentanyl, the need to end the war between Russia and Ukraine, and the approval of the Tiktok trade.”
Trump has also announced that he and XI have agreed to meet at the upcoming summit of the Asia-Pacific Economic Cooperation Forum in South Korea.
Trump agreed to “go to China early next year” and added that Xi agreed to “come to the US at the right time.”
“The call was very good. We spoke again on the phone and thanked Tiktok for his approval and we look forward to seeing each other at APEC!” he wrote.
Meanwhile, translated readings from China’s state news agency Xinhua News Agency appeared to show sunlight between both sides of the Tiktok.
“China’s position on the Tiktok issue is clear. The Chinese government respects the will of the corporations and is pleased that the corporations negotiate business based on market rules, and arrives at a solution that complies with Chinese laws and regulations and balances profits,” the statement said.
“We hope that the US side will provide an open, fair and non-discriminatory business environment for Chinese companies investing in the US.”
“The US hopes to promote bilateral economic and trade cooperation, support consultations between the two teams, and properly resolve the Tiktok issue,” the Xinhua statement said.
Trump and his administration had informed us that deals were largely set for the beginning of the week.
Chinese President Xi Jinping and US President Donald Trump.
Dan Kitwoodnicholas Kamm | AFP | Getty Images
Treasury Secretary Scott Bescent said on Monday that negotiators from both countries agreed to Tiktok’s “framework.”
Trump even said Tuesday there was a “deal on Tiktok,” adding that his call with XI would simply be “see everything.”
Tiktok’s Chinese parent company, Baitedan, faces an ultimatum under federal law requiring the platform to sell American businesses or close in the US
But Trump, a fan of Tiktok, believed he helped him win the 2024 presidential election, but repeatedly extended the deadline. On Tuesday, he signed an executive order delaying it until December 16th.
During his visit to the UK on Thursday, Trump said he is hoping to keep Tiktok alive in the US
“I’ll talk to President XI on Friday to see if I can confirm anything with Tiktok. I hate giving it value because it’s incredible value, but I like Tiktok.”
Lawmakers on both parties supported the Tiktoc Act, which aimed to protect Americans from social media apps used for surveillance or manipulation by foreign enemies.
Former President Joe Biden signed the bill in April 2024, and Bytedan initially faced a January 19 deadline facing the US ban on January 19th.
But Trump extended that deadline on his first inauguration day, and he has since done three more times.
This is fast news. Please check for updates.
