Overview

• Both leaders agreed to work toward a transfer of TikTok’s U.S. business to American interests during a Sept. 19 phone call.
• Trump said Xi approved the sale, while China’s foreign ministry stated it respects companies’ decisions, effectively permitting negotiations.
• Finalization still requires signatures and regulatory reviews under a U.S. law that forces divestment to avoid an effective ban.
• U.S. media report a prospective buyer in a consortium led by Oracle that would hold roughly 80% of a new U.S. entity for the business.
• The White House extended the divestment deadline to Dec. 16, 2025, and the leaders agreed to meet in person at the late-October APEC summit as Xi warned against unilateral trade restrictions.