President Donald Trump teased on Monday that a deal has been made with China regarding trade and the future of TikTok.
“The big Trade Meeting in Europe between The United States of America, and China, has gone VERY WELL! It will be concluding shortly,” Trump wrote on Truth Social.
“A deal was also reached on a ‘certain’ company that young people in our Country very much wanted to save,” he said, referring to TikTok. “They will be very happy!”
TikTok was set to be inaccessible to American users in January, but Trump delayed the start date of the ban’s enactment to find an American buyer for the social media platform. China’s ByteDance owns the app, which poses national security concerns for the United States.
After months of negotiations and setbacks, Treasury Secretary Scott Bessent said the U.S. and China are “very close” to finalizing a deal on TikTok.
“We made very good progress on the technical details of the agreement. In terms of the overall agreement itself, our Chinese counterparts have come with a very aggressive ask,” he told reporters in Madrid, Spain, on the second day of talks. “We will see if we can get there. At present, we are not willing to sacrifice our national security for a social media app.”
TikTok is set to face a U.S. ban on Wednesday under a law Congress passed last year. It’s possible that the White House will extend the deadline again if the deal isn’t finalized soon.
Negotiations on a U.S.-China trade deal are also underway following months of an escalating tariff war between the two countries. Last month, the U.S. reduced its tariffs to 30%, and China reduced its own levies to 10%, while trade talks continued. The 90-day deadline for reaching a trade deal ends Nov. 10, although U.S. Trade Representative Jamieson Greer said it could be extended again.
TRUMP’S SECOND-TERM CHINA POLICIES ARE CONFUSING ‘HAWKS’ — AND BEIJING
Trump said he will be speaking with Chinese President Xi Jinping on Friday, adding their “relationship remains a very strong one.” After announcing the existence of a framework for the TikTok deal without providing details, Bessent said Trump and Xi “have to confirm” the deal.
Trump’s statement is a much warmer message to Xi than one made two weeks ago when he accused the foreign leader of conspiring against the U.S. in a Truth Social post. Xi was photographed with Russian President Vladimir Putin and North Korean dictator Kim Jong Un during China’s military parade.
