US President Donald Trump signed an executive order approving the deal to keep TikTok operating in the United States. He said he spoke with President Xi of China, who approved the agreement. The deal secures TikTok’s continued presence in the US.
The new agreement creates a US-based joint venture to run TikTok. US investors, including Oracle and Silver Lake, will hold the majority stake. ByteDance, TikTok’s Chinese owner, will keep less than 20% of the entity.
Vice President JD Vance said the TikTok US venture will be valued at $14 billion. He stressed that Americans’ data privacy will be protected. Users’ information will no longer be used for foreign propaganda.
Vance added that American investors will control TikTok’s algorithm. Business decisions will be made in the United States. The deal allows Americans to continue using the app while protecting their data.
