Overview

• After their Sept. 19 call, Donald Trump described the conversation as very productive and said he and Xi will meet at APEC in South Korea, with reciprocal visits discussed for 2026.
• White House spokesperson Karoline Leavitt said the deal is essentially closed pending signatures, while Chinese state media called the exchange positive and emphasized market‑rule negotiations without announcing a final accord.
• Washington this week extended the divestiture deadline to Dec. 16 under the 2024 U.S. law requiring TikTok’s U.S. operations to be separated from ByteDance to avoid a ban.
• The Madrid talks produced a framework for a U.S.-controlled operating structure with third‑party safeguards for U.S. user data, but details on algorithm control, data custody, and board and investor arrangements remain unresolved.
• Press reports identify Oracle, Andreessen Horowitz and Silver Lake as potential investors in a U.S. consortium, and further decisions could align with upcoming leader-level engagements tied to APEC and broader tariff and technology negotiations.