President Donald Trump has signed a executive order This essentially approves the sale of Tiktok’s US companies to an American group of investors to maintain the implementation of social media in the country. Vice President JD Vance said the deal would estimate Tiktok at “about $ 14 billion”.
Tiktok was obliged to assign her US business or be banned to the US through a national security law originally signed by former President Joe Biden. Trump’s executive mandate essentially prevents the Attorney General or the Ministry of Justice from the enforcement of this law for 120 days, while the divestiture plan presented to the President is executed.
The owner of Tiktok byTedance has not yet publicly recognized the agreement or executive order, but on September 19, version A statement that “will work in accordance with applicable laws to ensure that Tiktok remains available to American users through Tiktok US”
Trump said China’s president Xi Jinping spoke to him and gave him approval.
“I talked to President Xi, we had a good discussion,” Trump said During an update with journalists. “I told him what we did. And he said,” move on with it. “
The mandate states that Tiktok’s US companies will create a new board and that the recommendation algorithm, the source code and the US content moderation system will be transferred to the control of its new owners. Under the terms of the agreement, Oracle will oversee the application security work and provide computer services for Tiktok US.
“It is belonging to Americans and very sophisticated Americans,” Trump said during the briefing. “This will be American that works all the way.”
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Trump said Oracle would be among US investors in Tiktok US, but did not reveal the full list of new owners. CNBC reports That Oracle, Silver Lake and MGX based in Abu Dhabi will take a 45% stake in Tiktok’s US company.
“This deal really means that Americans can use Tiktok, but they really use it with more confidence than in the past, because their data is safe and will not be used as a propaganda weapon as it has in the past,” Vance said.
During the briefing, Trump said that “every group, every philosophy, every policy will be failed” after being asked if the algorithm would show content related to Maga after the agreement.
Trump last week signed an executive mandate that expanded byTedance’s deadline to assign Tiktok’s US companies or to be banned. This marked the fourth time Trump expanded the deadline.
Trump began the push for the ban on Tiktok in 2020 and the idea later received bilateral support during Biden’s administration.
