US President Donald Trump signed an executive order last night, announcing that the plan to sell the US operations of the "TikTok" platform, carried out by American and international investors, meets the requirements of a 2024 US law, Reuters reported, quoted by BTA.
Under the law in question, the short-video application will be banned unless its Chinese owners sell it.
The new US company will be valued at about $14 billion, said Vice President J.D. Vance, in whose presence Trump signed the executive order in the Oval Office of the White House.
Trump postponed the implementation of the law until December 16 of this year in the context of efforts to extract "TikTok"'s US assets from the global platform, to attract American and other investors and to get approval from the Chinese government.
"There was some resistance from the Chinese side, but the main thing we wanted to achieve was to keep "TikTok" operating in the United States, and also to make sure that we protect the privacy of American citizens," said Vice President Vance.
"I spoke with President Xi (Jinping - ed.). We had a good conversation, I told him what we were doing and he said let's go ahead", Trump said, noting that "TikTok" has about 170 million users in the United States.