President Trump and President Xi hold call, expected to finalize TikTok deal, discuss trade

US-China Relations & Economic Impact - US President and China's President Xi Jinping held a phone call to discuss topics including TikTok and the economic relationship between the two countries [1][2] - Potential for a personal meeting between the two leaders in Asia this fall [5] TikTok Deal Structure - A consortium including Oracle, Silverlake, and Andreessen Horowitz may own the US version of TikTok with an 80% stake [3] - Chinese entity would retain just under a 20% stake in the revised TikTok [4] - An American-dominated board is expected, with reports suggesting the US government may get one board seat [4] - Licensing deal for the Chinese algorithm is expected, with ByteDance (parent company) receiving approximately 20% of revenues [6] - Atlantic and other US-based shareholders in ByteDance are expected to participate with new investments, potentially representing 30% of the 80% US stake [6] National Security Concerns - Central national security concern revolves around whether the American version of TikTok will continue to use the Chinese algorithm [4] - US government's ability to inspect the algorithm for potential manipulation or backdoors is a key concern [6][7] - Concern exists that a hostile foreign government could control a major media operation within the US, influencing public opinion [7]