President Donald Trump and China's President Xi Jinping arrived at a state dinner in Beijing in 2017. Friday, the two talked about the future of TikTok. File Photo Pool Thomas Peter/EPA
Sept. 18 (UPI) -- President Donald Trump and Chinese President Xi Jinping began a phone call Friday morning to finalize their agreement about what to do with TikTok.
Trump and Xi held a call beginning at 8 a.m. EDT that was expeccted to finalize the deal that is reportedly set to see a consortium of U.S. venture capital firms, private equity funds and tech companies operate the app.
Trump extended the deadline Tuesday for TikTok owner ByteDance to separate out its American operations to avoid a ban in the United States as it was reported investors led by Oracle, Horowitz and Silver Lake would own around 80% of a new U.S. company that will run TikTok's American operation, with the remaining stake owned by Chinese shareholders.
In his visit to Britain this week, Trump said he wants to keep TikTok in the United States.
