Trump Signs Order Backing $14B TikTok Deal
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Key Points
- Trump signs executive order advancing US investor purchase of TikTok
- Deal values US arm of the app at $14 billion
- Oracle to help secure TikTok’s algorithm and US user data
- Trump says Xi Jinping has approved the arrangement
President Donald Trump has signed an executive order to push forward a deal for American investors to acquire TikTok’s US operations from Chinese owner ByteDance Ltd. The agreement places TikTok’s American business at an estimated $14 billion, with Oracle Corp. set to oversee algorithm security and safeguard US user data.
Trump said the deal has support from Chinese President Xi Jinping and framed the move as critical to ensuring the platform can operate safely in the United States. The order is the latest step in a long-running standoff over TikTok’s ownership and national security concerns, with the December 16 deadline for finalizing the transaction still in place.
If completed, the deal would shift control of one of the world’s most popular apps into US hands while providing safeguards meant to address bipartisan worries about data access and influence.
