Incoming President Donald Trump said in a post on Truth Social he discussed "balancing" TikTok with China’s president Xi Jinping in a phone call on Friday. 

Trump's post came just minutes before the Supreme Court on Friday rejected TikTok’s appeal to overturn a ban on the social media platform set to begin Jan. 19, just one day before Trump's inauguration.  

"The call was a very good one for both China and the U.S.A.," Trump wrote.

"It is my expectation that we will solve many problems together, and starting immediately," Trump added. 'We discussed balancing Trade, Fentanyl, TikTok, and many other subjects. President Xi and I will do everything possible to make the World more peaceful and safe!"

The president-elect told CNN anchor Pamela Brown in reaction to Friday's court ruling that the ban, "ultimately goes up to me, so you're going to see what I'm going to do." 

"Congress has given me the decision, so I'll be making the decision," he added. 

To be sure, US presidents do not have the power to overturn Supreme Court rulings. But as Yahoo Finance's Alexis Keenan has reported, Trump could try to push Congress to repeal the law or try delaying it from taking effect.

The AP reported Friday that President Biden does not plan to enforce a ban on TikTok. 

Reuters / Reuters

Trump promised on the campaign trail to "save" TikTok from a US ban — which was put into place by an April law signed by Biden. The law said TikTok, which is owned by China's ByteDance, must be sold to a US owner or face a ban on operating in the country, citing national security concerns.

Trump’s pro-TikTok rhetoric is a reversal from his stance during his first term as president, in which he made an executive order attempting to ban the platform.

Trump's potential strategies to rescue the social media platform aren’t guaranteed to succeed. One viable solution could be found in the hands of Trump ally Elon Musk, whose own social media company X could buy TikTok from ByteDance.

TikTok CEO Shou Chew plans to join other Big Tech CEOs at Trump's inauguration on Monday.

'Balancing' trade

Trump’s discussion of "balancing" trade with Xi also follows some mixed messaging on his plans to stick new tariffs on Chinese goods. 

Trump said during his campaign he plans to impose tariffs of 60% or higher on Chinese imports, but a more recent post on Truth Social from the incoming president said he’d enact less severe, additional 10% tariffs on existing duties on Chinese goods. 

In the most dramatic scenario, Trump could deploy steep new tariffs in as little as 12 hours. A report from Bloomberg this week said his team is considering raising tariffs incrementally rather than immediately due to inflation concerns this week.

US-listed stocks of Chinese online retail giants Baidu (BIDU), Alibaba (BABA), JD.com (JD) and Pinduoduo (PDD) surged after Trump's Truth Social post Friday. JD.com soared the most, up nearly 9% late morning.

Laura Bratton is a reporter for Yahoo Finance. Follow her on Bluesky @laurabratton.bsky.social. Email her at laura.bratton@yahooinc.com.

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