Trump seeks resolution for TikTok's future during phone conversation with Xi
President Donald Trump is set to have a phone call with Chinese leader Xi Jinping on Friday, marking the third meeting between the two leaders this year. The conversation is expected to focus on finding a compromise on tariffs and the fate of video-sharing app TikTok.
The telephone talks will be the second meeting between the two leaders since Trump returned to the White House in January. Previously, Xi had invited Trump to visit China, and Trump had extended a similar invitation for Xi to visit the US. However, no travel plans have been made for a meeting in either country.
During the dispute earlier this year, both the U.S. and China imposed significant tariffs on each other's goods, disrupting global supply chains. Under the potential deal, TikTok's US business would be owned by American investors. The U.S. leader has proposed a consortium to control TikTok that would include tech giant Oracle and two California investment funds - Silver Lake and Andreessen Horowitz.
Trump has again pushed back on applying a ban on TikTok, which was decided under his predecessor, Joe Biden. He hopes to "finalise something on TikTok" during the call. The search results do not provide specific names of company individuals who proposed control measures for TikTok.
Trump has also criticised India for purchasing oil from Russia and has called on European countries to sanction China for buying Russian oil. However, he has not imposed sanctions on China himself but has suggested that such actions could help end the war in Ukraine.
Analysts expect Xi to repeat his offer to Trump during the phone call, especially considering Trump's preference for diplomatic fanfare. Trump stated that they are "very close to deals on all of it."
A deal was reached to reduce these levies, which expires in November. Under the current deal, the U.S. imposes 30% duties on imports of Chinese goods, while China imposes a 10% tariff on U.S. products.
The phone meeting comes after Xi organized a major summit with the leaders of Russia and India, and invited North Korean leader Kim Jong Un to observe a major military parade in Beijing. Trump has also addressed Russian President Vladimir Putin and Kim Jong Un on his Truth Social platform, saying "Please give my warmest regards."
As the call approaches, both leaders are under pressure to find a resolution that benefits both countries and maintains global stability. The outcome of this conversation could have significant implications for the global economy and international relations.
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