The S&P 500 (SPX) is back to trading near its intraday high after President Trump shared details of his phone call with Chinese President Xi Jinping.
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During the call, the two leaders discussed a wide range of topics that included trips to each other’s countries.
“We made progress on many very important issues including Trade, Fentanyl, the need to bring the War between Russia and Ukraine to an end, and the approval of the TikTok Deal,” Trump said in a Truth Social post on Friday.
U.S.-China Talks Move Forward with Planned Visits and TikTok Deal
In addition, Trump added that he would meet with Xi at the Asia-Pacific Economic Cooperation (APEC) Summit in South Korea, which begins on October 31. After that, Trump will visit China “in the early part of next year,” while Xi plans to visit the U.S. “at an appropriate time.”
Meanwhile, it appears that the two presidents have approved the framework TikTok deal reached earlier this week, with Trump saying that he appreciates “the TikTok approval.” The deal involves a group of U.S. investors taking an 80% stake in the popular short-form video app, with Chinese shareholders holding on to the remaining 20%.
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