Overview

• Trump said his call with Xi produced progress on a TikTok deal and announced an in‑person meeting at the APEC summit in South Korea on Oct. 31–Nov. 1, but no agreement was announced.
• According to the administration, the framework envisions U.S. majority ownership, a seven‑member U.S. board with six Americans, and U.S. oversight of the algorithm and data through Oracle.
• Chinese state media said Xi urged the U.S. to avoid unilateral trade restrictions and to ensure an open, fair and non‑discriminatory environment for Chinese companies such as TikTok.
• Any transaction would still need approval from ByteDance and Chinese authorities before potential enforcement of a congressionally mandated U.S. ban could proceed.
• The Wall Street Journal reports the U.S. government expects a multibillion‑dollar commission for brokering the negotiations, which continue under a tariff truce that runs through Nov. 10.