TikTok Deal Approved: Trump Executes Order for US Ownership, Says China Agreed

An executive order signed by President Donald Trump facilitates the transfer of TikTok to American ownership. Trump discussed the deal with Chinese President Xi Jinping during a September 20 meeting, where he stated the Chinese leader gave his approval. Trump emphasized the role of American investors and companies in managing the app, addressing security and safety concerns. He specifically mentioned key figures such as Oracle’s Larry Ellison, and the company’s contribution to ensuring the platform’s security. The President noted that the US will have ‘tight control’ over the app. Following their discussion, ByteDance, the parent company of TikTok, released a statement indicating that they would move forward, allowing TikTok to continue serving its American users. The proposed agreement, according to reports, would see American investors controlling 80% of TikTok, with the remaining 20% held by Chinese firms like ByteDance. The legislation to ban TikTok has not been enforced.