Trump Holds Teleconference with Xi, Cites Progress on TikTok, Says Three Summits to Occur
Sept. 19—President Donald Trump says he held a "very productive" teleconference with Chinese President Xi Jinping today, where much progress was made on a number of issues, including resolving the ownership of TikTok’s American operations. In addition, the President announced that he would be meeting with Xi several times—first at the APEC summit in South Korea, Oct. 31–Nov. 1. The President also said he would be traveling to China early next year, and that the Chinese leader would come to the U.S. "at an appropriate time," which sources say could be this year.
Sources close to the White House report that Xi had sought today’s call, as well as the face-to-face summits with Trump. These sources say preparations are in progress for the meetings. This and other sources say that Xi plans to discuss a positive upshift in relations between the two countries that will involve cooperation on a number of matters. They say he is prepared to resolve tariff issues with a plan for a comprehensive agreement of the type he negotiated with Trump during his first administration, which saw China opening up investment and agreeing to purchase billions of dollars' worth of U.S. agricultural and other products. This would replace threats of trade war that have seen Trump raise tariffs on Chinese imports.
Xi’s Broader Strategic Vision Includes Russia and Global South
But Xi, these sources—who have been in touch with high-ranking Chinese officials—say, wants to go farther and express a willingness to create a new global strategic and economic partnership that would also involve President Vladimir Putin of Russia. This would include new arms control treaties and halt a potential arms race in space.
"The idea is to seek friendly competition and cooperation, rather than confrontation, as proposed and supported by the War Party in NATO and the U.S. that term China and its economic growth a threat to the West," said a source. "Xi wants the U.S. to participate in joint development projects in the Global South—to, say, go into Latin America together on development projects, where the Americans would participate in projects of China's Belt & Road Initiative."
Proposal for a New International Lending Institution
This source said that Xi wants to help the U.S. out of its debt crisis by agreeing once again to purchase U.S. Treasury bonds, which would help stabilize that market. But Xi has the idea that China might deposit these Treasuries to create a capital base for a new international lending institution—an International Development Bank—that could then lend several trillion dollars for infrastructure projects around the world, including in the U.S.
He reportedly sees this as a step toward creating a new global economic and monetary system that could only be built in cooperation with the United States. The BRICS organization, in which Xi and China have been leaders, is not a threat to the U.S. and its dollar, but can be helpful in leading the world to a new system—one that would need to be created through cooperation, not opposition between various blocs, for an emergent multi-polar world.
Trump Highlights Progress on Trade, TikTok, and Ukraine
As for today’s call, Trump seemed very pleased with the progress made. “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 wrote on Truth Social. “The call was a very good one, we will be speaking again by phone, appreciate the TikTok approval, and both [of us] look forward to meeting at APEC!” the President concluded.
Trump has delayed on four separate occasions the implementation of a law requiring TikTok’s parent company, ByteDance, to divest itself of the video-sharing app or face a ban in the U.S. over national security concerns. The latest extension was approved Sept. 16 and runs until Dec. 16, after Treasury Secretary Scott Bessent revealed there had been a “framework” agreement reached to keep the platform online, without divulging details.
Trump stopped short of saying a deal had been finalized in his Truth Social post.
Beijing Emphasizes Free Market Principles Amid Negotiations
U.S. and Chinese officials held talks in Madrid on Sept. 15, after which Chinese official Li Chenggang stressed that Beijing’s position involves a focus on free markets and companies coming to their own decisions without “politicization,” per state media.
Trump has been criticized by some Republicans over his affinity for the app, which has been decried—without any proof—as a data-collecting, U.S.-undermining tool of the Chinese government.
The President told reporters in England in September that he sees “tremendous value” in TikTok, arguing it helped boost his standing among young voters in the 2024 election. “I hate to give away value,” Trump said, adding, “I like TikTok. It helped get me elected.”
Summits May Shape Future Global Stability
It is not yet defined what among these ideas and topics Xi will propose to Trump in meetings to come, the sources agreed, but they are all potentially on the table. "If Xi and Trump can reach an understanding," said one source, commenting on the importance of the summits announced, "the world will be a better, more stable place than it is today. And that would be good for everyone except the trans-Atlantic elite which wants to cling to the existing bankrupt system, which produces war and conflict."