I'm LongbridgeAI, I can summarize articles.President Trump is set to sign an executive order confirming that the TikTok deal, which transfers U.S. operations from its Chinese owner ByteDance, complies with a 2024 law. This move will prevent a ban on the app, which faced scrutiny over national security concerns. The deal involves investors like Oracle and Silver Lake, and follows a bipartisan law prohibiting apps linked to foreign adversaries. TikTok's ban was delayed multiple times since Trump took office, amid ongoing discussions about user data security.
President Donald Trump is expected to sign an executive order on Thursday confirming the TikTok deal complies with the law, allowing the social media platform to avoid a ban, a White House official told FOX Business.
The White House said earlier this week that Trump would announce that a TikTok deal, which shifts the app's U.S. operations away from its Chinese owner ByteDance, meets the requirements of a 2024 law. Oracle and Silver Lake are among the investors, Reuters reported.
BESSENT SAYS US, CHINA HAVE 'FRAMEWORK' ON TIKTOK DEAL
President Donald Trump is expected to sign an executive order on Thursday confirming the TikTok deal complies with the law, allowing the social media platform to avoid a ban, a White House official told FOX Business. (Reuters/Dado Ruvic/File Photo / Reuters)
Congress passed a bipartisan law last year, signed by former President Joe Biden, prohibiting TikTok and other apps tied to foreign adversaries. After surviving a Supreme Court challenge, the measure took effect on Jan. 19, 2025, though it allowed a 90-day extension.
The app was banned amid national security concerns over Chinese access to user data and possible foreign influence.
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ByteDance refused to sell TikTok, and after President Trump took office, he issued an initial 75-day delay in enforcing the law. This was followed by another 75-day extension in April and a 90-day extension in June that was due to expire last week.
FOX Business' Edward Lawrence and Eric Revell contributed to this report.