BUSINESS

TikTok Discussions Advance as Xi and Trump Speak by Phone

Published: Sep. 20, 2025 3:49 a.m. GMT+8

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Chinese President Xi Jinping and U.S. President Donald Trump spoke by phone Friday about trade ties and the fate of TikTok, with both sides signaling progress toward a compromise on the embattled app.

Xi reiterated China’s position, saying Beijing supports corporate decisions made under market rules and Chinese law. He urged Washington to provide Chinese firms with an open, fair and non-discriminatory investment environment.

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Presidents Xi and Trump discussed TikTok and trade, signaling progress toward a compromise.
Both sides agreed in principle on arrangements for TikTok’s data security, content operations, and algorithm licensing; deal details remain undisclosed.
TikTok faces a U.S. law requiring divestment from Chinese control, and the app’s continued U.S. operation depends on ongoing negotiations and regulatory approvals.

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Who’s Who

ByteDance Ltd.: ByteDance Ltd. is the parent company of TikTok. They welcomed the attention given to TikTok by Presidents Xi and Trump, stating that they would comply with Chinese law to keep TikTok US operational. ByteDance's shareholders include founder Zhang Yiming, employees, and global investors.

HongShan Capital Group: HongShan Capital Group is listed as one of the global investors in ByteDance Ltd., the parent company of TikTok. Despite these investments, the voting rights within ByteDance remain concentrated with its founder, Zhang Yiming, and his management team.

Carlyle: Carlyle is an international investment company. Carlyle is a global investor in TikTok's parent company, ByteDance Ltd.

General Atlantic: General Atlantic is a global investor holding shares in ByteDance, the parent company of TikTok. The firm is among a group of international investors, alongside HongShan Capital Group and Carlyle, that collectively own a portion of ByteDance, although founder Zhang Yiming and his management team retain concentrated voting rights.

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What Happened When

2025：: Xi Jinping and Donald Trump agreed to meet at the APEC summit in South Korea.

By January 2025：: TikTok briefly shut down when the first deadline from a 2024 U.S. law requiring divestment expired.

After January 2025：: TikTok resumed operations after President Trump approved four extensions to the deadline.

September 2025：: Chinese Vice Premier He Lifeng led the fourth round of trade talks with U.S. officials in Spain, where negotiators reached a basic framework to resolve the TikTok dispute and reduce barriers to investment.

September 2025：: At a press briefing in Madrid, Chinese officials said both sides had agreed in principle to arrangements concerning data security, content operations, and licensing of TikTok’s algorithms.

September 19, 2025：: Chinese President Xi Jinping and U.S. President Donald Trump spoke by phone about trade ties and TikTok, signaling progress toward a compromise on the app.

AI generated, for reference only