U.S. President Donald Trump is set to speak with China's Xi Jinping Friday (Sept. 19). The call is expected to include a discussion on a potential TikTok deal. CBS News' Natalie Brand has more.

Washington

U.S. President Donald Trump and Chinese President Xi Jinping are set to hold a phone conversation focused on a potential deal to keep TikTok operating in the United States. This marks their first known call in three months and follows bipartisan legislation requiring TikTok to divest from its Chinese parent company, ByteDance, or face a ban in the U.S.

The proposed deal would involve U.S. technology companies and venture capital firms acquiring an ownership stake in TikTok. Lawmakers, including members of the Select Committee on China, have indicated they will closely scrutinize any agreement to ensure it prevents Chinese government access to user data and complies with privacy safeguards outlined in the new law.

Trump and Xi set to discuss TikTok deal

President Trump and Chinese President Xi Jinping are set to speak on the phone today. One angle of discussion is a potential deal to save TikTok in the U.S. Now, this is the leader's first known call in three months. President Trump says the U.S. will get a tremendous fee for putting together the deal. He joined Fox News yesterday to talk about the potential agreement. My relationship with China is very good. You know, we have a trade deal with them. We had a very good meeting the other day, and it sounds like they've approved TikTok, and TikTok is a tremendous amount of money for the United States. CBS News correspondent Natalie Brand joins us from the White House with more on this. Good morning, Natalie. So, what might we expect from today's conversation? It's a big one. Obviously, lingering trade tariff tensions will be one topic, but of course, one of the major goals of this call is to firm up and finalize this framework or outline of a TikTok deal that the administration previewed earlier this week to sell TikTok, the very popular app, to U.S. companies and firms. Details still unknown, even though, you know, the Treasury Secretary, the president himself hinted at this deal from what we understand it would involve U.S. tech companies and venture capital firms coming together to take an ownership stake. Of course, all of this stems from that bipartisan law passed by Congress that said that TikTok must divest from its Chinese parent company ByteDance or else go dark here in the United States. Of course, lawmakers who passed that legislation are going to be scrutinizing any potential deal. CBS News on the takeout spoke to one of the lawmakers, Democrat Raja Krishnamoorthi, who will be paying especially close attention. He's the ranking member on the Select Committee on China. Take a listen. We want TikTok to survive. We just don't want it to be under the control of the Chinese Communist Party. There can't be operational relationships between ByteDance and the new entity such that, you know, basically the CCP would use a backdoor to gain access to data, violate people's privacy and, you know, undermine the reason for the law. So he says he's waiting to really scrutinize the details, make sure that the safeguards are in place and that the deal adheres to what Congress has previously passed. They'll be looking for angles like where's the data stored, who controls the algorithm and what stake do Chinese firms have in this ultimate deal, Errol? Yeah, that algorithm itself worth billions of dollars. Natalie, thank you so much.

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A much-awaited announcement about a deal to keep Chinese-owned App TikTok online in the US is likely in the coming hours. It will be one of the main items on the agenda of a phone-call between Donald Trump and Xi Jinping. The two men will also discuss a standoff over trade tariffs.

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