Overview

• Trump told reporters and wrote on Truth Social that Xi had agreed to a TikTok deal and said investors are ready, while acknowledging details are still being worked on.
• Chinese state media did not confirm an agreement, stressing solutions based on market rules and compliance with Chinese law and urging the U.S. to avoid unilateral trade measures.
• Reports describe a framework in which a U.S. consortium led by Oracle with Silver Lake and Andreessen Horowitz would own about 80% of a new U.S. TikTok entity, with ByteDance retaining a minority stake and the recommendation algorithm licensed from China.
• A U.S. law requires ByteDance to divest TikTok’s U.S. operations or face removal from app stores by January 19, 2025, and the Trump administration has repeatedly extended related deadlines as the app serves about 170 million U.S. users.
• Trump said he will meet Xi at the APEC summit in South Korea and plans a later visit to China, and he noted that reported investor payments to the U.S. government tied to the transaction are not yet finalized.