President Donald Trump approved the TikTok U.S. deal on Sept. 25, signing an executive order that will give China-based ByteDance 120 days to finalize terms with American investors.
The United States in 2024 enacted a law that required ByteDance, a foreign adversary-controlled company, to divest itself of the popular social media app. Pursuant to the law, ByteDance will be limited to holding a stake of less than 20 percent in the new joint venture.
“We have American investors taking it over, running it,” Trump said at a news briefing on Sept. 25. “We have very good controls.”
Vice President JD Vance said, “This deal really does mean that Americans can use TikTok, but actually use it with more confidence than they had in the past, because their data is going to be secure and it’s not going to be used as a propaganda weapon against our fellow citizens.”…
Trump Signs Deal to Put TikTok Under US Ownership
