Trump to approve US-China TikTok deal this week via executive order: report
According to a White House official, TikTok’s American assets are to be primarily owned by US investors and managed by a security-focused board
US President Donald Trump is expected to approve a deal for TikTok through an executive order, declaring that it satisfies the requirements of law later this week, the Wall Street Journal reported on Monday, citing a senior White House official.
This would cap months of US-China deliberations that underscored wider trade talks and solidify the timeline for a much-awaited deal to keep the popular short video app running in the US.
Trump has said that the United States and China have made progress on a deal requiring TikTok’s American assets to be transferred to US owners from China’s ByteDance.
Tech giant Oracle is set to retrain and provide security for a US version of TikTok’s algorithm, the White House said on Monday.
The agreement provides that a copy of TikTok’s content recommendation algorithm will be brought into the US joint venture system, a senior White House official told reporters.
“It’s going to be fully inspected and retrained by the security provider on US user data, and then it’s going to be operated by that US entity,” the official said.
The deal would also allow ByteDance to choose one of seven board members for the new entity, with Americans holding the six other seats, Reuters reported, citing a White House official.