President Trump to Sign Executive Order Supporting TikTok US Divestiture Deal
The executive order is expected to extend this deadline further.
WASHINGTON: President Donald Trump is set to sign an executive order on Thursday that will officially recognize a deal to transfer TikTok’s US operations from its Chinese parent company, ByteDance, as compliant with a new 2024 law, a White House source confirmed.
The law, passed under the Biden administration, requires TikTok to divest its US assets over national security concerns, fearing that user data could be accessed by the Chinese government. The short-video app, which boasts 170 million users in the US, faces a ban unless the ownership issue is resolved.
Trump, who has praised TikTok for helping him secure re-election and personally holds 15 million followers on the platform, delayed enforcement of the law until mid-December to allow time for negotiations. The executive order is expected to extend this deadline further.
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The proposed deal involves transferring TikTok’s US operations to American investors, including business leaders Lachlan Murdoch, Larry Ellison, and Michael Dell, ensuring the new ownership meets the full divestiture requirements outlined in the law.
Trump has also indicated progress in talks with China regarding the transfer of TikTok’s US assets from ByteDance to American ownership, aiming to keep the popular app operational in the United States.
The executive order marks a significant step toward resolving the ongoing tensions surrounding TikTok’s presence in the US market while addressing security concerns raised by lawmakers.
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