Trump Says TikTok Deal "Approved", Set To Visit China Next Year

US President Donald Trump on Friday said that the TikTok deal with China has been approved. Following a phone call with his Chinese counterpart Xi Jinping, Trump also stated that he would visit China in the "early part of next year" and that he would meet him at a regional summit to take place at the end of October in South Korea.

In a Truth Social post, Trump also said that Xi would come to the United States "at an appropriate time".

"The call was a very good one, we will be speaking again by phone, appreciate the TikTok approval, and both look forward to meeting at APEC!," Trump wrote, referring to the Asia-Pacific Economic Cooperation, a grouping of 21 economies on the Pacific Rim.

The Chinese leader highlighted the importance of bilateral ties and urged the US to avoid putting unilateral trade restrictions, according to China's official news agency Xinhua.

The talks come in the aftermath of Trump's tariff war with China that strained ties between the two largest economies. However, the two leaders spoke on trade too, defusing tensions over China's restrictions on the export of rare earth elements, used in everything from smartphones to fighter jets.

Although Trump has pushed for European countries to slap higher tariffs on China in order to end the Russia-Ukraine war, he said that he has a "very good" relationship with the country.

Trump has credited TikTok for having "tremendous value" as it helped him win another term, and had extended the deadline many times for the app to be spun off from its Chinese parent company, ByteDance. It is a requirement to allow TikTok to keep operating in the US under a law passed last year seeking to address data privacy and national security concerns.

On Monday, Chinese officials said the two sides have come to a consensus on authorisation of the "use of intellectual property rights," which includes the algorithm, and also agreed on entrusting a partner with handling US user data and content security.

Neither US nor China have released details of the TikTok agreement yet.