Trump and Xi Hold Productive Call, Discussing Trade, TikTok, and Future Meetings

Call Between Trump and Xi

• 📞 A lengthy phone call between President Trump and Chinese President Xi Jinping concluded around 11:00 a.m., with both sides working on official readouts.
• 🇨🇳 The Chinese side issued a relatively tepid announcement, not indicating any specific agreement on TikTok or a meeting between the leaders.
• 🗣️ The Chinese readout described the exchange as candid, in-depth, pragmatic, positive, and constructive, focusing on China-US relations and strategic guidance.

Chinese Concerns and Stance

• ⚠️ China warned the US against unilateral trade-restrictive measures that could undermine consultation achievements.
• 🤝 Regarding TikTok, China stated its position is clear, respecting business wishes and welcoming market-based negotiations that comply with Chinese laws.
• ⚖️ China hopes for an open, fair, and non-discriminatory business environment for Chinese companies investing in the US.

US President's Statement and TikTok Approval

• 📢 President Trump posted that he and Xi agreed to meet at the Apex summit in South Korea and that he would visit China early next year, with Xi also coming to the US at an appropriate time.
• 🤔 Trump's post also mentioned progress on the approval of the TikTok deal, though initial interpretations suggest this might mean progress rather than a finalized deal.
• ❓ Clarity is needed from White House officials regarding the specifics of what was agreed upon or approved concerning the TikTok deal.

Market Implications

• 📈 The call is viewed as productive and positive, likely leading to a pause on steeper tariffs, which investors were closely watching.
• 😌 The apparent progress on the TikTok deal provides a sigh of relief for companies dependent on the Chinese market, such as Nike, Disney, and Starbucks.
• ⏸️ The trend of decoupling between the US and China appears to be on hold, with a recognition of mutual economic interdependence.