Former US President Donald Trump on Thursday signed an executive order outlining a proposed deal for a US version of TikTok that would hand control of the app to his allies.
Under the arrangement, Chinese ownership of TikTok in the US would be reduced to 20 percent. Beijing on Friday reiterated a call for “open, fair” treatment on the issue.
At a White House signing ceremony, Trump said the US version of the app would be run by “highly sophisticated” investors, all his allies, while insisting that the app would not take a political stance.
Key Investors In The Deal:
- Larry Ellison, founder of Oracle
- Michael Dell, tech investor
- Rupert Murdoch, media tycoon
- Silver Lake Management
- Andreessen Horowitz
“The proposed divestiture would allow the millions of Americans who enjoy TikTok every day to continue using it while also protecting national security,” Trump stated in the order.
Trump added, “If I could make it 100 percent MAGA I would, but it’s not going to work out that way unfortunately. No… every group, every philosophy, every policy, will be treated very fairly.”
The president confirmed that the US version of TikTok would feature a homegrown model of the app’s prized algorithm — often described as its “secret sauce” — and that it would be “continuously monitored” to ensure it is not unduly influenced.
The new set-up responds to a law passed under Trump’s predecessor, Joe Biden, requiring ByteDance to sell its US operations or face a ban. Trump has repeatedly delayed enforcement, with Thursday’s order extending the deadline by 120 days to complete the transaction by January 23, 2026.
Vice President JD Vance, who led the team negotiating the deal, said the US entity would be valued at about $14 billion but that investors would ultimately determine its price.
Trump said Chinese President Xi Jinping approved the deal during a phone call last week. “I very much appreciate that he approved the deal, because to get it done properly, we really needed the support of China,” Trump said.
China’s foreign ministry spokesman Guo Jiakun reiterated Beijing’s call for an “open, fair, and non-discriminatory business environment” for Chinese companies investing in the United States.
TikTok, which has more than 170 million US users, did not immediately respond to a request for comment.
