Trump approved the transfer of control of TikTok to an American business.

According to the order, the app in the United States will be managed by a new joint venture company based in the United States. The majority stake and control in this entity will be held by American citizens. The Chinese company ByteDance will hold a less than 20% stake in the new company, with the remainder going to a number of American investors. Management will be exercised by a new board of directors in accordance with rules designed to ensure the protection of American user data and the security of the United States.

After signing the document, Trump stated that he had discussed the deal in a phone call with Chinese President Xi Jinping and received his approval. According to the American leader, the social network would be managed by American investors and companies, and he considered the terms of the deal very favorable for the United States. Trump also noted the important role of Oracle in the new structure.

US Vice President J.D. Vance emphasized that the goal was to ensure TikTok's continued operation while protecting Americans' data, as required by law. He added that the deal would allow users to use the platform with greater confidence in the security of their information. The new company is valued at an estimated $14 billion.

As a reminder, the law requiring ByteDance to sell TikTok or cease its operations in the US was signed by Trump's predecessor, Joe Biden, in 2024. Since his inauguration in January 2025, Trump has repeatedly delayed the platform's ban, most recently extending it until September 16. At that time, he announced preliminary agreements with the Chinese side and interest from major US companies in acquiring TikTok.