Trump signs executive order to facilitate TikTok deal
President Donald Trump has signed an executive order that essentially approves the sale of TikTok’s U.S. operations to an American investor group in order to keep the social media app operational in the country. Vice President JD Vance said that the deal would value TikTok US at “around $14 billion.”
TikTok was required to divest its American business or be banned in the U.S. via a national security law originally signed by former president Joe Biden. Trump’s executive order essentially bars the attorney general or Department of Justice from enforcing that law for 120 days while the divestiture plan presented to the president is executed.
Related Knowledge Center: The TikTok ban
The U.S. Congress passed and President Joe Biden signed into law a measure banning TikTok if it weren’t sold by its Chinese ownership. But now-President Donald Trump gave the service a reprieve, and a sale of its U.S. operations appears imminent.