Bloomberg reported that US President Trump and Chinese President Xi Jinping will have a call at 9 a.m. Eastern Time on Friday,September 19th (9 p.m. Taiwan time). The key agendas include TikTok’s US business transfer, tariff truce, and the China business of NVDA-US. This will be the first conversation between the two since June, and if it goes well, it may lead to the first face-to-face “Trump-Xi meeting” held in Trump’s second term so far.

Trump and Xi jinping are scheduled to discuss a framework agreement unveiled this week that will transfer control of TikTok’s U.S. business from China’s parent company ByteDance to a consortium of U.S. investors.

Details of the TikTok deal have not been released yet, and Trump remained ambiguous in an exclusive interview with Fox News, which aired on Thursday, implying that the transaction results are mainly determined by Xi Jinping’s response.

“It looks like they have approved TikTok, and TikTok represents a huge monetary value for the United States, which is good, but let’s see how things finally go,” Trump said.

This will be the first dialog between the U.S.and China leaders since June, during which the two countries are trapped in a tug-of-war in trade controls, with key industries including semiconductors to rare earths being affected.This also affects Nvidia’s future in China.

“We are very close to reaching all agreements,” Trump said, and suggested that in addition to TikTok, there are also trade negotiations. “I have a very good relationship with China.”

The call may also lead to face-to-face talks between the two. If the conversation can be completed, the discussion topics might potentially be broader, including China’s procurement of Boeing (BA-US) aircraft and more in-depth geopolitical discussions such as Ukraine’s war with the Middle East, friction in the South China Sea, etc.

TikTok Agreement

Trump has signed a number of executive orders so far to extend the deadline for TikTok to “ban if you don’t sell it,” and his interest in promoting the TikTok agreement has obviously exceeded all national security concerns.

“tiktok has great value, I don’t want to give it up in vain, I would rather reap these benefits by myself,” trump said after meeting with British Prime Minister Keir Starmer on Thursday.

according to a previously disclosed source, the TikTok agreement will allow bytedance to hold no more than 20%, while U.S. investors include Oracle (ORCL-US), Andreessen Horowitz, and private equity firm Silver Lake.

Trump, who is currently visiting the UK, said on Thursday that TikTok will be owned by “all-US investments” and “owned by companies that love the United States,” but did not directly answer whether TikTok needs a new algorithm.

If the end result of the TikTok agreement is that Chinese entities license technology to the United States but still retain control and ownership of core technologies,”China will see this as a successful outcome because it is consistent with China’s vision of ‘the world’s increasing reliance on Chinese technology.'”

But Levin pointed out that this does not match her understanding of the national security regulations that require core technologies to be owned by American companies.

Steve Yates, a senior researcher at the Center for Asian Studies at the Heritage Foundation, a conservative think tank in Washington, said that if Xi Jinping fails to meet the US’s expectations for algorithms, trump must be prepared to withdraw.

“If there is any deficiencies or failure to meet the requirements, the president must expose the bluff and strengthen the threat of TikTok’s removal until it recomplies with the norms,” Yates said.

Nvidia keeps a Close Eye

Nvidia may be watching the phone call as closely as ByteDance. The world’s most valuable company is urging the Trump administration to relax restrictions on exporting AI chips to Chinese customers.

Nvidia’s recent violation of antitrust laws by the Chinese government is the latest pressure on the AI giant. Nvidia is working to retain Trump’s support,but Beijing authorities are trying not to allow Chinese tech companies to purchase Nvidia products to increase their dependence on local suppliers.

Whether Nvidia can find a way out from the increasing pressure on U.S. export controls and China will be a test for CEO Jensen Huang.

Nvidia has promised to invest $500 billion in the US AI infrastructure construction, and Huang Renxun also accompanied Trump on some of the UK itineraries.

Trump casually mentioned Huang Renxun at an event with Schkele and joked about Nvidia’s strength in the field of AI. “Jensen, you’re conquering the world,” Trump said. “I don’t know what you’re doing here. Hope you are right.”

Trade Truce

The ceasefire period for the U.S.-China trade war is November. The United States is still imposing a 20% tariff on China, aiming to pressure China to curb the circulation of fentanyl and its raw materials.

As the fate of the ceasefire agreement remains unknown after November, Yates said “don’t expect immediate results.” at the same time, Trump continues to call on allies to strengthen punitive measures against China and India to increase economic pressure on Russian President Putin and end the Ukrainian war.

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