Trump and Xi Approve TikTok Sale and Plan Key Diplomatic Engagements at APEC Summit

Donald Trump, President of the United States, and Xi Jinping, President of China, have jointly approved the sale of shares in ByteDance’s U.S. operations of TikTok. Alongside this pivotal decision, the two leaders confirmed plans to meet at the Asia-Pacific Economic Cooperation (APEC) Summit scheduled to take place in Gyeongju, South Korea, this November.

Their recent phone call, conducted on October 19, lasted approximately two hours and focused on pressing bilateral and global matters. Topics included the TikTok stake sale agreement, U.S.-China trade relations, the cross-border fentanyl crisis, as well as pathways to resolving the Russia-Ukraine conflict. Following the discussion, President Trump shared updates via Truth Social, calling the conversation a step forward on “important matters.”

Finalization of TikTok Stake Sale Agreement

The process surrounding TikTok’s stake sale has been unfolding for months, with high-level meetings in Madrid, Spain, playing a critical role. Delegations from the United States and China reached a preliminary agreement regarding TikTok's U.S. operations, owned by the Beijing-based parent company ByteDance. This recent phone conversation between Trump and Xi formally solidified their approval of the arrangement.

President Xi emphasized that the solution adheres to established market principles and regulatory frameworks, highlighting fairness within the transaction. President Trump expressed his satisfaction with the resolution, underscoring the significance of the agreement for U.S. economic interests. ByteDance is in advanced discussions with American investors, including Oracle, to finalize the sale. As potential buyers await formal confirmation, President Trump noted that the deal would boost transparency and enhance cybersecurity. He further declared that TikTok will “now be tightly controlled by Americans,” emphasizing his administration's focus on protecting user data and ensuring national security.

Future Diplomatic Meetings at APEC Summit

The phone conversation included planning for key diplomatic engagements between the two leaders. Both President Trump and President Xi confirmed their attendance at the upcoming APEC Summit, an event widely regarded as critical for strengthening regional economic cooperation. President Trump stated, “We have agreed to meet at the APEC meeting, and I plan to visit China early next year. President Xi has also committed to visiting the U.S. at an appropriate time.”

The leaders’ mutual recognition of the importance of in-person diplomacy signals potential progress in the strained U.S.-China relationship. This communication marks the first direct dialogue between Trump and Xi since their previous call in June, a gap of approximately three months.

Building Momentum for U.S.-China Relations

Officials from both nations described the tone of the October 19 phone call as “practical, positive, and constructive,” raising hopes for further advancements in bilateral cooperation. President Trump expressed optimism about the outcomes, stating, “I appreciate the significant strides achieved during my discussion with President Xi.” Similarly, President Xi affirmed the importance of collaboration, remarking, “Cooperation between China and the United States benefits both nations and the world at large.”

The agreement over the sale of TikTok’s U.S. operations is widely regarded as a significant step toward resolving economic tensions between the two countries. This decision is expected to serve as a foundation for broader discussions during the upcoming APEC Summit in South Korea. Anticipation for follow-up meetings between Trump and Xi continues to grow, as both sides aim to solidify trust and strengthen economic and diplomatic ties moving forward.