Trump announces plans for an encounter with Xi in South Korea within the upcoming month, followed by a trip to China.
In a series of significant developments, US President Donald Trump and Chinese President Xi Jinping are set to meet at a regional summit in South Korea at the end of October. This will be their second meeting since Trump returned to the White House and launched tariffs on China.
The leaders' discussion is expected to cover a wide range of topics, including trade, fentanyl, and the ongoing conflict between Russia and Ukraine. One of the key agenda items is the TikTok saga, which has been a point of contention between the two nations.
Trump, in a Truth Social post, stated that Xi would visit the United States at an appropriate time. This statement comes after multiple deadlines for TikTok to be spun off from its Chinese parent company, ByteDance, as a requirement to keep operating in the US under a law passed last year addressing data privacy and national security concerns.
U.S. Treasury Secretary Janet Yellen announced a framework deal on TikTok's ownership was reached in a meeting earlier this week in Madrid. However, no official deals have been announced on tech export restrictions, Chinese purchases of US agricultural products, or fentanyl.
Details of what can be achieved for both sides from the summit lie in the trade deal. Top U.S. and Chinese officials have held four rounds of trade talks between May and September, with another likely in the coming weeks. The discussions aim to address the ongoing trade tensions and find a resolution that benefits both nations.
Chinese officials stated a consensus was reached on the authorization of the 'use of intellectual property rights', including the algorithm, and that the two sides agreed on entrusting a partner with handling US user data and content security. This development could pave the way for a resolution to the TikTok issue.
Rep. Raja Krishnamoorthi, the ranking Democrat on the House Select Committee on the Chinese Communist Party, stated that for TikTok's data and algorithm to comply with the law, it must be 'truly in American hands'. This sentiment is shared by many in the US, as the TikTok deal is closely linked to national security concerns.
The Trump administration has imposed additional 20% tariffs on Chinese goods linked to allegations that Beijing has failed to stem the flow of opioid chemicals to the US. This move has had a significant impact on US-China relations and could be a topic of discussion during the leaders' meeting.
American farm exports to China fell 53% from January through July compared with the same period last year, costing US farmers one of their top markets. The decrease in US sorghum sales to China was particularly noteworthy, with sales down 97% during the same period.
Liu Pengyu, spokesperson for the Chinese embassy in Washington, said 'heads-of-state diplomacy plays an irreplaceable role in providing strategic guidance for China-US relations'. This statement underscores the importance of the upcoming summit for both nations.
Trump, in a recent statement, emphasised the value of TikTok, stating that 'the US has that value in its hand because we're the ones that have to approve it'. He also plans to visit China in the 'early part of next year'.
The details of the summit are still being finalised, but it is clear that both leaders have a strong desire for the leadership summit to happen. Analysts predict a positive discussion, with both sides seeking to find common ground and move forward in their complex relationship.
