US President Donald Trump has confirmed plans to speak with Chinese President Xi Jinping on Friday to finalize a deal over the ownership of TikTok, the popular video-sharing platform.
Trump has repeatedly postponed enforcing a ban on TikTok under legislation requiring the app’s Chinese parent company, ByteDance, to divest ownership for national security reasons.
“We’re speaking to President Xi on Friday to see if we can finalise something on TikTok, because there is tremendous value,” Trump said during a press conference with UK Prime Minister Keir Starmer on his state visit.
According to Trump, the agreement would ensure TikTok is “owned by all American investors, very rich people and companies,” adding that the buyers would be “very legitimate companies that love America.”
The US leader also claimed TikTok played a role in boosting his popularity among younger voters, contributing to his victory in the 2024 presidential election.
Earlier this week, Trump extended the suspension of the ban on TikTok for the fourth time. The restriction was initially introduced under his predecessor, Joe Biden, who signed a 2024 law mandating TikTok’s closure over security concerns about ByteDance’s potential ties to the Chinese government.