President Donald Trump stated that the deal to find a new owner for the social media app TikTok in the United States has been closed and the company has received approval from Chinese President Xi Jinping. On Thursday (9/25), Trump signed an executive order declaring that the planned deal met the requirements of a law that mandated the app’s sale by its Chinese parent company, ByteDance. Comments in the Oval Office by Trump and Vice President J.D. Vance indicated that a group of investors would purchase TikTok’s US operations to create a new company valued at $14 billion.
Trump confirms TikTok deal is closed; what we know so far
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