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US President Donald Trump said Chinese President Xi Jinping had approved a deal to keep TikTok operating in the US after a phone call between the two presidents. But specific details are still unclear.
Washington has been pushing to take control of TikTok from Chinese ownership, with Trump, who once called for the platform to be banned, using it to rally new supporters.
What did Trump say about TikTok?
Trump told reporters in the Oval Office that Xi "approved the TikTok deal," adding that "it could be a formality" to reach a deal later.
He said this after having a phone call with the Chinese president earlier in the day.
"We're going to have very, very strict scrutiny," Trump said. "TikTok has tremendous value and I'm a little biased because frankly I've done very well with its help."
The US president said in a post on social media after his call with Xi that the two had a "productive conversation" that covered several topics.
What do we know so far about the TikTok deal?
The US government is expected to receive a payment of several billion dollars as part of the deal, the Wall Street Journal reported.
The investors involved would pay the fee to Washington in exchange for help in negotiations with China, according to people familiar with the talks.
It is reported that American investors would gain control of the video-sharing app through a new entity that would license TikTok's algorithms from parent company ByteDance.
The structure is intended to ease national security concerns over American user data, according to the newspaper report.
US officials have long warned that China could use TikTok to collect data or influence what users see online, including during the years of Donald Trump's first term.
On Tuesday, Trump again pushed back on a ban on the popular video app, despite these national security concerns.
What is China's position on this agreement?
China has not confirmed any deal for TikTok and described the discussions as "candid and in-depth."
"Regarding the TikTok issue, Xi noted that China's position is clear: the Chinese government respects the will of enterprises and welcomes them to conduct business negotiations based on market rules, to reach solutions that balance interests and comply with Chinese laws and regulations," a statement said.
"China hopes that the US side will provide an open, fair and non-discriminatory business environment for Chinese companies investing in the United States."
It is the second time the leaders of the world's two largest economies have spoken since Trump returned to the White House.
Trump also said he would meet with Xi during an Asia-Pacific Economic Cooperation forum summit in South Korea starting late next month and that he plans to travel to China next year./ CNA
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