President Donald Trump has indicated progress in negotiations concerning the future of the popular video-sharing app, TikTok, in the United States. Trump stated he anticipates commencing discussions with Chinese representatives, potentially including President Xi Jinping himself, early next week.
Trump suggested that a tentative agreement regarding the divestiture of TikTok's US assets is nearing completion. He emphasized the necessity of securing China's approval for any final arrangement.
The president expressed optimism about reaching a mutually beneficial outcome, citing his positive relationship with President Xi. He floated the possibility of reciprocal visits between the two leaders, reinforcing the potential for high-level engagement.
The US government has repeatedly extended deadlines for ByteDance, TikTok's parent company, to either sell its US operations or face a ban within the country. The latest extension, granted in June, pushed the deadline to September 17th.
Earlier attempts to broker a deal, involving the establishment of a US-based entity to manage TikTok's American operations under US investor control, stalled due to China's apparent reluctance to approve the transaction. This followed the implementation of significant tariffs on Chinese goods by the Trump administration.
TikTok has expressed gratitude for the US government's involvement in the negotiations, while concerns have been raised by some lawmakers regarding the legality of addressing the situation through executive orders. Senator Mark Warner has been among those questioning the tactic.