Trump To Hold Call With China's Xi

Deal for TikTok?

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Expectations are high for a phone call between President Trump and President Xi Jinping at 9 AM ET, as a thawing of U.S.-China tensions is said to be in the making. In recent weeks, negotiations between the two sides have taken place at a high level, including meetings between Secretary of State Marco Rubio, Treasury Secretary Scott Bessent, and Secretary of War Pete Hegseth with their Chinese counterparts. A lot is on the agenda, and if everything goes to schedule, a trip by Trump to China could happen soon, marking the first American president to visit the country since 2017, writes Seeking Alpha.

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First on the agenda: There might finally be a deal for TikTok. The app, owned by Chinese parent ByteDance (BDNCE), has survived in its current form after years of accusations that its algorithm was a national security threat due to mass surveillance or propaganda manipulation. Keep an eye on the structure of any spinoff, and on whether the app will end up in the hands of "all American investors" or contain some level of Chinese involvement.

Washington and Beijing also agreed to extend their trade truce for another 90 days in early August after a tit-for-tat tariff battle spiraled out of control. Points of tension still center around the export of fentanyl-related chemicals, China's relationship with Russia, and purchases of U.S. farm products like soybeans. "We're pretty close to a deal," Trump said this week during a press conference. "We may do an extension with China, but it's an extension based on the same terms that we have right now, which are pretty good terms.”