President Donald Trump has signed an executive order stating that his plan to sell TikTok’s U.S. operations to U.S. and global investors will meet the national security requirements outlined in a 2024 law.
Vice President JD Vance stated that the new U.S. company will be valued at around $14 billion.
The announcement follows Trump’s postponement of the enforcement of the app ban until January 20, which will only go into effect if its Chinese owners do not sell.
At an Oval Office briefing, J.D. Vance told reporters, “There was some resistance on the Chinese side, but the fundamental thing that we wanted to accomplish is that we wanted to keep TikTok operating, but we also wanted to make sure that we protected Americans’ data privacy as required by law.”
Despite Tik Tok remaining silent following the President’s announcement, Trump has admitted that Chinese President Xi Jinping showed approval for the plans. “I spoke with President Xi,” Trump stated. “We had a good talk, I told him what we were doing and he said go ahead with it.”
On Friday, China’s foreign ministry stated that it “respects the will of enterprises and welcomes them to conduct business negotiations on the basis of market rules to reach solutions that comply with Chinese laws and regulations and achieve a balance of interests.”
The Ministry spokesperson Guo Jiakun also stated, “We hope the U.S. will provide an open, fair and non-discriminatory business environment for Chinese companies investing in the United States.”
By CEO NA Editorial Staff
