Xi Presses US on Fair Treatment of Chinese Companies Amid TikTok Talks
As the United States and China approach the finalization of the TikTok deal, Beijing has imposed certain conditions regarding the treatment of Chinese companies, including TikTok, in Washington. A report indicates that Chinese President Xi Jinping has called on the US to create a fair environment for Chinese companies, emphasizing the ongoing tensions regarding export restrictions and various trade barriers.
During his conversation with US President Donald Trump, Xi urged Washington to refrain from implementing restrictive trade measures and to protect the advancements achieved in previous discussions aimed at alleviating economic tensions. The Chinese leader emphasized the importance of a “fair and non-discriminatory business environment” for Chinese enterprises investing in the US, according to the report. On Friday, Trump and Jinping engaged in their first conversation in three months. However, they did not reach a definitive agreement regarding TikTok’s future. “I just completed a very productive call with President Xi of China. We made progress on many very important issues, including Trade, Fentanyl, the need to bring the War between Russia and Ukraine to an end, and the approval of the TikTok Deal,” Trump stated.
The two leaders are anticipated to convene in South Korea in late October during the Asia-Pacific Economic Cooperation summit. “The call was a very good one; we will be speaking again by phone. I appreciate the TikTok approval, and we both look forward to meeting at Apec!” Trump stated. Trump also stated his intention to visit China early next year, noting that President Xi would likewise come to the US at a suitable time. TikTok’s US assets are set to be transferred to American owners. If the deal is finalised, TikTok’s US assets will be transferred from ByteDance to American owners. However, details regarding ownership, algorithm control, and approval from both sides remain unresolved. On September 16, US Treasury Secretary Scott Bessent stated that an agreement has been reached with China, as reported. “President Trump played a role in this; we had a call with him last night, and we received specific guidance from him, which we shared with our Chinese counterparts. Without his leadership and the leverage he provides, we would not have been able to include the deal today,” Bessent said.
The Trump administration refrained from identifying the US-backed buyer, though it is widely anticipated that the group will be spearheaded by Oracle executive chairman Larry Ellison, who momentarily eclipsed Tesla Chief Elon Musk as the world’s richest individual. In January, Trump stated he would support Ellison, a Trump supporter, in acquiring the app’s US assets.
