President Donald Trump signed an executive order Thursday aimed at ensuring TikTok becomes “American-operated all the way,” he said.
After months of delaying the enforcement of a law banning TikTok, Trump announced a new framework facilitated by his executive order, which would transfer ownership of the social media platform from China to a group of American investors. Congress passed a law in 2024 to either ban the Chinese-owned TikTok or force its sale due to national security and privacy concerns.
“This is going to be American-operated all the way,” Trump said as he signed the executive order. “I have great respect for President Xi, and I very much appreciate that he approved the deal, because to get it done properly, we really needed the support of China and the approval of China.”
Trump thanked Chinese President Xi Jinping for agreeing to the deal. He said some of the investors in the project included Oracle CEO Larry Ellison, entrepreneur Michael Dell, and Rupert Murdoch.
Vice President JD Vance played a key role in negotiating the framework. He said that the deal would allow Americans to use TikTok “with more confidence than they had in the past because their data is going to be secure, and it’s not going to be used as a propaganda weapon against our fellow citizens.”
Vance said that TikTok was valued at around $14 billion and that more details about the specific investors would be revealed in the coming days.
According to the text of the executive order, the framework resolves the national security concerns by removing “the TikTok application and certain other applications from the ‘control’ of a foreign adversary and precludes any ‘operational relationship’ between a formerly affiliated entity controlled by a foreign adversary and the new joint venture.”
It also “prohibits the storage of sensitive United States user data in a manner that would place such data under the control of a foreign adversary and requires such data to be stored in a cloud environment run by an American company.”
Earlier this year, the Supreme Court upheld the law banning TikTok, ruling that it did not violate the First Amendment for Congress to prohibit the application due to national security concerns.
