U.S. President Donald Trump signed an executive order at the White House on Thursday (September 25), saying that his plan to sell TikTok’s U.S. business to American investors meets a legal requirement passed in 2024. (Anthony Kwan/Getty Images)
[People News] U.S. President Donald Trump signed an executive order at the White House on Thursday (September 25), saying that his plan to sell TikTok’s U.S. business to American investors meets a requirement of a law passed in 2024. The law stipulates that unless TikTok’s Chinese parent company ByteDance sells the short-video app, it will be banned in the United States.
According to Voice of America, at the signing ceremony, President Trump said: “With this executive order, you are essentially making an agreement take effect, an agreement that will save TikTok and ensure it can operate safely and securely.”
U.S. Vice President J.D. Vance, who was deeply involved in the deal, said at the signing ceremony: “The Chinese side put up some resistance, but our fundamental goal is that we want TikTok to continue to operate, while at the same time ensuring we protect Americans’ data privacy in accordance with the law. That is both because it is the right thing to do and because it is the statutory requirement of the law Congress passed last year.”
Vance said they are very excited about the deal, calling it “an important day.”
He said: “This deal does indeed mean that Americans can use TikTok, but in fact they can use it with more peace of mind than before, because their data will be secure, and it will not be used as a propaganda weapon against our fellow citizens.”
The transfer of TikTok’s ownership to American investors resolved U.S. national security concerns that the Chinese Communist government could gain access to TikTok user data.
Vance emphasised that TikTok’s algorithm will be controlled by American investors.
In response to reporters’ questions, Trump said that he recently discussed TikTok with Chinese Communist Party leader Xi Jinping during a phone call and that Xi approved the deal, for which he expressed gratitude.
He said, “I had a conversation with President Xi Jinping. We had a very good talk, and I told him what we were doing at the time, and he said, ‘Go ahead.’”
He also said that the newly formed company will be entirely operated by the United States. He said that American tech company Oracle will play a major role in the deal, noting that the company had already been hosting TikTok’s U.S. data.
President Trump added that Michael Dell, Rupert Murdoch, and “about four or five absolutely world-class investors” will also be involved in the deal.
Vice President Vance, in response to reporters’ questions, revealed that the new company is valued at around $14 billion.
The Chinese Communist side has not yet responded to President Trump’s executive order and the related TikTok deal.
Trump believes that TikTok, with its 170 million U.S. users, helped him win re-election last year. As of this September, Trump’s personal account @realdonaldtrump on TikTok has more than 15 million followers. He joined the platform in June 2024 during his presidential campaign. The White House also launched an official TikTok account last month. △
News magazine bootstrap themes!
I like this themes, fast loading and look profesional
Thank you Carlos!
You're welcome!
Please support me with give positive rating!
Yes Sure!