Trump, Xi Jinping hold 'very productive' talks on trade, TikTok
Published in Business News
President Trump had what he called “a very productive” phone call with Chinese leader Xi Jinping on Friday but details were sparse about trade and a possible deal to allow TikTok to keep operating in the United States.
The leaders of the world’s two biggest economies agreed to meet in person at an upcoming Asian summit at the end of October and make visits to each others’ countries as soon as 2026.
“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 wrote on his social media site.
Trump said he “appreciate(s) the TikTok approval,” but it’s unclear what that means or what may be the terms of a possible deal on the popular social media app.
He has rolled out sky-high tariffs on China, triggering back-and-forth trade restrictions that strained ties between the two largest economies.
Despite the tensions, Trump says he wants to negotiate deals with Xi on trade, tariffs and other issues like TikTok, which faces a U.S. ban unless its Chinese parent company sells its controlling stake.
Treasury Secretary Scott Bessent said this week that negotiators reached a framework deal on TikTok’s ownership for the two leaders to discuss.
Congress overwhelmingly passed a bipartisan measure ordering TikTok be shut down over data privacy and national security concerns unless it sells to American owners, a bill that the Supreme Court backed.
Trump, who has credited the app with helping him win another term, has extended a deadline several times for the app to be spun off from its Chinese parent company ByteDance.
On trade, there was likewise no word on specific progress as massive tariffs and other issues wreak havoc with global supply chains and threaten to increase prices paid by American consumers.
Top U.S. and Chinese officials have held four rounds of trade talks between May and September, with another likely in the coming weeks. Both sides have paused sky-high tariffs and pulled back from harsh export controls, but many issues remain unresolved.
No deals have been announced on tech export restrictions, Chinese purchases of U.S. agricultural products or fentanyl, despite Trump’s claims of chummy talks.
The Trump administration has imposed additional 20% tariffs on Chinese goods linked to allegations that Beijing has failed to stem the flow to the U.S. of the chemicals used to make opioids.
American farm exports to China fell 53% in the first half of 2025, including even more dramatic declines in sorghum and soybean sales.
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