Overview
- Xi Jinping and President Donald Trump held a September 19 call that both sides described as positive, according to official readouts.
- Trump said Xi approved the TikTok agreement and announced a planned meeting at the APEC summit in South Korea, but Chinese state media did not confirm an approval or the meeting.
- The White House said the emerging arrangement would install a U.S.-majority board for TikTok’s U.S. operations, with Oracle supervising data confidentiality and oversight of the recommendation algorithm.
- A 2024 U.S. law requires ByteDance to divest TikTok’s U.S. operations or face a ban, and Trump has extended the compliance deadline to December 16.
- Key terms remain under negotiation, notably who controls, maintains and updates the algorithm and the precise governance structure, with reports pointing to a U.S. investor group including Oracle, Silver Lake and Andreessen Horowitz.