Trump signs order on TikTok to pave way for US ownership

Core Points - Donald Trump signed an executive order allowing TikTok to continue operating in the United States, following discussions with China's President Xi Jinping regarding the deal's final terms [1][3] - The deal is valued at approximately $14 billion (£10.5 billion), establishing a new joint-venture company to manage TikTok's US operations, with ByteDance retaining less than 20% ownership [2] - The primary goal of the negotiations was to ensure TikTok's operation while safeguarding American data privacy, as stated by Vice President JD Vance [3] Group 1 - TikTok's US operations will be managed by a new joint-venture company [2] - ByteDance will hold less than 20% of the stock in the new company [2] - The deal was delayed multiple times before being finalized [1] Group 2 - The executive order was a response to a potential shutdown of TikTok for American users by January 2025 if ByteDance did not divest its assets [1] - There was some resistance from the Chinese side during negotiations [3] - TikTok has been credited by Trump for contributing to his re-election efforts [3]