US President Donald Trump signed an executive order Thursday aimed at securing the future of TikTok in the United States while addressing national security concerns, The Associated Press reported.
The order paves the way for a group of American investors to acquire the app from Chinese parent company ByteDance, though the deal remains incomplete and subject to Beijing’s approval.
Speaking at the White House, Trump announced that Chinese President Xi Jinping has agreed to move forward with the arrangement. Vice President JD Vance acknowledged “some resistance on the Chinese side,” but emphasized the administration’s dual goals: “We wanted to keep TikTok operating, but we also wanted to make sure that we protected Americans’ data privacy as required by law.”
The move follows legislation signed by then-President Joe Biden last year that would ban TikTok unless ByteDance divested its US assets. Trump has repeatedly issued executive orders to keep the app operational while negotiations continue.
The latest order declares that the proposed deal satisfies the law’s security requirements and grants a 120-day extension for finalizing the transaction.
“Young people especially really wanted this to happen,” Trump said, acknowledging the platform’s influence among youth. According to a Pew Research Center report released Thursday, 43% of US adults under 30 regularly get news from TikTok - more than from YouTube, Facebook, or Instagram.
The White House revealed on Thursday that the app will be spun off into a new US-based joint venture, with Oracle and Silver Lake Partners among the investors. The American consortium would hold an 80% stake, while ByteDance would retain less than 20%, reserved for foreign investors. The board will be controlled by US investors, with ByteDance represented by one member excluded from security matters.
Trump previously supported a TikTok ban during his first term as President, but later had a change of heart and pledged to “save TikTok” during his presidential campaign ahead of his second term.
Trump credits the popular social media platform with helping him secure support among young voters in his victory over Democrat Kamala Harris in the November 2024 presidential election.
Last month, the White House launched an official TikTok account to promote Trump’s messages.