President Trump on Monday suggested U.S. and Chinese negotiators had reached a deal on a sale of TikTok, and said he would talk to Chinese leader Xi Jinping on Friday.
Why it matters: If there is a deal, which remains unclear, it would theoretically end a long saga that saw TikTok banned by Congress, only for Trump to tell his administration not to enforce it.
- Trump's latest executive order letting TikTok stay in business was due to expire Wednesday, so the Friday conversation with Xi implies yet another extension is coming.
Catch up quick: U.S. and Chinese negotiators are currently meeting in Madrid to discuss trade and other issues.
- Bloomberg quoted Treasury Secretary Scott Bessent early Monday as saying the TikTok issue was almost resolved, but that the Chinese side had made "aggressive asks," which he would not specify.
- That came hours after Trump said "we may let it die" when asked if he'd extend the company's sale deadline again.
What they're saying: "A deal was also reached on a 'certain' company that young people in our Country very much wanted to save. They will be very happy! I will be speaking to President Xi on Friday. The relationship remains a very strong one!!!" Trump posted on Truth Social.
Editor's note: This story was updated with additional context.
