Overview

• President Trump called his Sept. 19 phone call with Xi Jinping very productive and cited progress on TikTok, while China’s readout stressed compliance with its laws and did not confirm approval.
• Press Secretary Karoline Leavitt said the U.S. TikTok entity would have a seven-seat board with six Americans, with Oracle leading data and privacy protections and U.S. control of the algorithm.
• Reporting points to a framework in which a U.S. investor consortium led by Oracle, Silver Lake and Andreessen Horowitz would hold a majority stake, with ByteDance retaining a minority position and U.S. data processed in Texas.
• Unresolved questions include formal Chinese regulatory approval, congressional acceptance, and the precise handling of ByteDance’s algorithm and intellectual property.
• Trump said he and Xi will meet at the APEC summit in South Korea at the end of October and plans to visit China next year, as enforcement of the U.S. divest-or-ban law on TikTok remains on hold after multiple extensions.