Overview

• Xinhua reported that Donald Trump and Xi Jinping agreed in a Sept. 19 phone call to work toward resolving the transfer of TikTok’s U.S. business.
• Xi said China would respect companies’ intentions and welcomed a solution grounded in laws and balanced interests, and the Foreign Ministry said it respects the company’s will.
• Trump told reporters Xi had approved the sale and said well-known U.S. investors would take control, while U.S. media reported an Oracle-led consortium is the likely buyer with roughly 80% of a new U.S. entity.
• Final signatures and regulatory clearances in both countries are still required, and a 2024 U.S. law compels ByteDance to divest by Dec. 16 to avoid an effective ban.
• Trump said the call also produced progress on trade, fentanyl and Russia‑Ukraine, and he plans to meet Xi at the APEC leaders’ gathering in South Korea in late October.