US-China Leaders Hold Phone Call On TikTok Deadline, Trade Tensions

US President Donald Trump and Chinese President Xi Jinping held a phone conversation as leaders of the world's two largest economies work toward a resolution on TikTok's US operations and long-standing trade tensions.

This marks the first discussion between Trump and Xi since June. The call focused on finalizing a potential trade agreement and resolving issues surrounding TikTok, the Chinese-owned short-video app that faces a US ban unless parent company ByteDance sells its American assets.

Ahead of the call, Trump told Fox News that negotiations were "very close to deals on all of it," adding that his relationship with China was "very good" and suggesting that "it sounds like they've approved TikTok."

TikTok Deal Deadline Extended

TikTok, which has roughly 170 million US users, now has until December 16 to finalize a sale after Trump extended the deadline for the fourth time this week. Under a law passed by Congress last year, the app must come under US ownership due to national security concerns linked to Chinese data-sharing regulations.

US Treasury Secretary Scott Bessent confirmed that Washington and Beijing had reached a "framework" agreement on TikTok but did not provide specifics regarding potential buyers or control of the app's algorithm. China's Commerce Ministry acknowledged a "basic framework consensus" had been reached while reiterating its opposition to the "politicization, instrumentalization and weaponization of technology and trade issues."

Ongoing US-China Trade Tensions

The call also addressed ongoing trade friction, which intensified earlier this year when tariffs soared to 145%, effectively creating a trade embargo. Since then, both nations have scaled back: the US has capped tariffs at 30% on Chinese goods, while China maintains an additional 10% tariff on American products. These measures are set to expire on November 10 unless a new deal or extension is agreed upon.