watch now1:1601:16Trump, Xi make gress on TikTok deal, but more work remains, White House saysMoney MoversPresident Donald Trump and Chinese leader Xi Jinping failed to come to a final agreement on TikTok during a call Friday, but the two made significant gress toward a deal, a White House official told CNBC's Eamon Javers.Later Friday, Trump said in the Oval Office that a TikTok deal "is well on its way, as you know, and the investors are getting ready.""We have to get it signed," he said, according to a White House pool reporter, adding, "I guess it could be a formality."The White House official's remarks on the much-anticipated call came after Trump and China's state media issued dueling readouts of their conversation that left the of a deal on the app un."I just a very ductive call with President Xi of China.
We made gress on many very important issues including Trade, Fentanyl, the need to bring the War between Russia and Ukraine to an end, and the apval of the TikTok Deal," Trump wrote in a Truth Social post late Friday morning.Trump also announced that he and Xi agreed to meet during the Asia-Pacific Economic Cooperation forum's upcoming summit in South Korea.Trump added that he agreed to "go to China in the early part of next year," and that Xi "would, wise, come to the United States at an appriate time.""The call was a very good one, we will be speaking again by phone, appreciate the TikTok apval, and both look forward to meeting at APEC!" he wrote.A translated readout from Chinese state-run news agency Xinhua, meanwhile, appeared to show daylight between the two sides on TikTok.Read more CNBC coverageFCC's Brendan Carr says Jimmy Kimmel appeared to 'mislead' public on Charlie Kirk killingABC pulls Jimmy Kimmel show off air 'indefinitely' over Charlie Kirk remarksTrump administration asks Supreme Court to allow firing of Fed Governor Lisa CookJohnson says Democrats will 'lose that battle' if shutdown hinges on ACA subsidiesSpeaker Johnson says China is straining U.S.
relations with Nvidia chip banRCI Hospitality strip execs bribed tax auditor with comped dances: NY AGTrump administration moves to limit fallout from Hyundai immigration raid"China's position on the TikTok issue is : the Chinese government respects the will of companies and is pleased to see companies conduct negotiations on the basis of market rules and reach solutions that comply with Chinese laws and regulations and balance interests," the statement read."We hope the U.S.
side will vide an open, fair, and non-discriminatory environment for Chinese companies in the United States.""The U.S.
side hopes to mote bilateral economic and trade cooperation, will support consultations between the two teams, and perly resolve the TikTok issue," the statement from Xinhua said.Trump and his administration had signaled earlier in the week that a deal was all but clinched.Chinese President Xi Jinping and U.S.
President Donald Trump.Dan Kitwoodnicholas Kamm | Afp | Getty ImagesTreasury Secretary Scott Bessent said Monday that negotiators for the two countries had agreed on a "framework" for TikTok, which is under threat of being banned in the U.S.Trump on Tuesday had even stated, "We have a deal on TikTok," adding that his call with Xi was merely "to confirm everything up."ByteDance, TikTok's Chinese parent company, has faced an ultimatum under a federal law requiring it to either divest the platform's American or be shut down in the U.S.But Trump, a fan of TikTok who credited it with helping him win the 2024 presidential election, has repeatedly ext the deadline.
On Tuesday, he signed an executive order delaying it until Dec. 16.During a state visit to the U.K.
on Thursday, Trump said he was eager to keep TikTok a in the U.S."We're speaking to President Xi on Friday to see if we can finalize something on Tiktok because there is tremendous value, and I hate to give away value, but I Tiktok," Trump said at Chequers, the British prime minister's weekend residence in Aylesbury, England.Lawmakers of both parties had backed the TikTok legislation, which aimed to tect Americans from social media apps being used for surveillance or manipulation purposes by foreign adversaries.Former President Joe Biden signed the bill into law in April 2024, with ByteDance initially facing a Jan.
19 deadline to divest or face a U.S. ban.But Trump ext that deadline on his first day in office, and he has done so three more times since then.This is news.
Please check back for .Don’t miss these insights from CNBC Market track record is flawless when the Fed cuts rates with S&P 500 near record highFed rate cuts will make dividend stocks more appealing for income investors.
Here are a few standoutsBitcoin is forming an inverse head-and-shoulder pattern just with Fed rate cuts on their wayA breakout in this rare earths stock is taking place, according to the charts