Xi Endorses TikTok Deal, Says Trump
(MENAFN) On Friday, U.S. President Donald Trump announced that China's leader Xi Jinping had given his blessing to a proposed TikTok transaction.
During a meeting with journalists in the presidential office, Trump declared: "I had a great call with President Xi, and as you know, he approved the TikTok deal. We have to get it signed. I guess it could be a formality."
The President had previously characterized his conversation with Xi as highly successful earlier that same day.
According to Trump's account to the press, their discussion lasted nearly two hours in duration.
"We talked about a lot of things ... We have a very good relationship. The TikTok deal is well on its way, and the investors are getting ready," he stated.
The popular video-sharing platform had been threatened with prohibition in U.S. unless its domestic business was transferred to companies based in the United States. Three days prior, Trump had extended the deadline for shutting down TikTok's American presence for the third occasion, providing additional time for ongoing discussions.
Earlier in the week, Trump had revealed that a consortium of US-based corporations would acquire the social networking platform, though he has yet to reveal which specific companies are involved in the purchase.
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