Trump–Xi Friday: TikTok Deal Framework Ready?
US President Donald Trump said he would speak with Chinese President Xi Jinping on Friday, after a round of talks in Madrid produced a framework agreement to keep TikTok operating in the US. US Treasury Secretary Scott Bessent said the framework aims for US-controlled ownership, though final details have not been disclosed. The deadline for compliance with US national security laws is looming, and Trump has already extended the deadline several times.
From Beijing, Vice Minister of Commerce Li Chenggang confirmed there is a consensus framework but stressed that China will not sacrifice principles and rejects the politicization of economic issues. Officials said the Madrid meeting's primary focus was TikTok, with other issues such as US export controls only touched on peripherally.
On the broader trade front, Washington and Beijing paused their most extreme protectionist measures and left open the possibility of extending a tariff break beyond the mid-November deadline, while preparing for a possible Trump–Xi summit at APEC in Korea next month. High-level contacts have also increased in recent weeks, signaling efforts to ease tensions.
Still, friction remains: China launched two investigations into the US semiconductor industry shortly after the US added 23 Chinese companies to its list of restrictions. Bessent said the next round of negotiations will take place in about a month. For now, TikTok's final fate will largely be determined by the Trump-Xi call on Friday to hammer out the details of the deal. (ayu)
Source: Newsmaker.id
