(US, 25th) Reuters quoted White House sources as saying that US President Trump will sign an executive order on Thursday (September 25), announcing that the agreement for the sale of TikTok's US operations, which the White House is currently negotiating, meets the requirements of the laws enacted in 2024. Other media reports state that China has agreed to the terms of the TikTok deal.
This week, the White House said Trump will announce that the agreement to separate TikTok’s US operations from its Chinese parent company ByteDance complies with the relevant 2024 legal requirements. The law stipulates that unless TikTok’s Chinese owner ends its partnership, the short video app will be banned.
Bloomberg quoted NBC News as reporting that China has agreed to the deal terms for TikTok.
A US federal law, citing national security, requires ByteDance to sell TikTok's US operations or face a ban in the US. This law was set to go into effect on the day before Trump’s inauguration in January this year.
Since taking office, Trump has signed several executive orders extending the 'sell or ban' grace period for TikTok, which has now been extended to December 16. The purpose is to carve out TikTok's US assets from this global platform, attract American investors, and ensure that the new ownership complies with the full investment requirements mandated by the 2024 act. Investors will include US tech company Oracle and private equity firm Silver Lake.
Trump praised TikTok for helping him win re-election last year. TikTok has 170 million US users, and his personal account has 15 million followers. The White House also opened an official TikTok account last month.
Thursday’s executive order is expected to extend the enforcement deadline of the act.
This week, the White House said Trump will announce that the agreement to separate TikTok’s US operations from its Chinese parent company ByteDance complies with the relevant 2024 legal requirements. The law stipulates that unless TikTok’s Chinese owner ends its partnership, the short video app will be banned.
Bloomberg quoted NBC News as reporting that China has agreed to the deal terms for TikTok.
A US federal law, citing national security, requires ByteDance to sell TikTok's US operations or face a ban in the US. This law was set to go into effect on the day before Trump’s inauguration in January this year.
Since taking office, Trump has signed several executive orders extending the 'sell or ban' grace period for TikTok, which has now been extended to December 16. The purpose is to carve out TikTok's US assets from this global platform, attract American investors, and ensure that the new ownership complies with the full investment requirements mandated by the 2024 act. Investors will include US tech company Oracle and private equity firm Silver Lake.
Trump praised TikTok for helping him win re-election last year. TikTok has 170 million US users, and his personal account has 15 million followers. The White House also opened an official TikTok account last month.
Thursday’s executive order is expected to extend the enforcement deadline of the act.