Trump and Xi hold phone call to discuss trade, TikTok

US PresidentDonald Trump and Chinese President Xi Jinping spoke by phone on Friday in a push to finalize a deal that would allow TikTok to keep operating in the United States, while also addressing broader trade disputes.”Chinese President Xi Jinping spoke by telephone with US President Donald Trump,” state broadcaster CCTV and the Xinhua news agency confirmed, without providing further details.The call began around 8 am Washington time, according to a White House official. It was the second direct conversation between the two leaders since Trump returned to the White House and reimposed tariffs on Beijing, escalating a trade war that has roiled ties between the world’s two largest economies.Trump told reporters on Thursday that the discussion would cover both TikTok and trade. “We’re very close to deals on all of it,” he said, describing relations with China as “very good.”The two countries reached a framework agreement earlier this week in Madrid, with US Treasury Secretary Scott Bessent saying ownership and data security arrangements for TikTok had been broadly settled. A final decision rests with Trump and Xi. The app faces a US ban unless its Chinese parent company ByteDance spins off its controlling stake.Washington has long expressed concerns that ByteDance could be compelled to hand over data to Beijing, and lawmakers insist the company’s algorithm and U.S. user data must be under American control. Chinese officials, however, said both sides had reached consensus on authorizing the “use of intellectual property rights,” including TikTok’s algorithm.Trade frictions remain unresolved. Xi is expected to press Trump to ease tariffs and sanctions, while Trump has signaled he wants to project U.S. leverage in negotiations. Farmers in the US are watching closely, with soybean exports to China down sharply this year. “There’s still time. It’s encouraging that the two countries continue to talk,” said Josh Gackle, chairman of the American Soybean Association.No agreement has yet been announced on wider trade issues, including fentanyl precursors, agricultural purchases, or export restrictions. Analysts say the call could set the stage for a possible in-person summit between Trump and Xi.