US President Donald Trump signed an executive order approving the deal that will allow Chinese-owned TikTok to continue operating in the country, preventing its shutdown after being sold to investors. Vice President JD Vance estimated the value of the operations at $14 billion. The deal satisfies requirements of the national security law that forced Chinese company ByteDance to sell TikTok's US operations or face a ban on its activities in the country. Under the terms, which China still needs to approve, a new company will oversee TikTok's business in the US, while ByteDance will retain less than 20% of the shares.
Trump approves TikTok deal: US operations valued at approximately $14 billion
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