Trump signs executive order to transfer TikTok to US owners
by Dara Kerr and Nick Robins-Early from Technology | The Guardian on (#70ACV)
Agreement separates app from Chinese owner ByteDance and allows US investors to take 80% stake
Donald Trump signed an executive order on Thursday outlining the terms of a deal to transfer TikTok to a US owner.
Trump said he and China's president Xi Jinping had come to an agreement to allow TikTok to continue operating in the US, separating the social media platform from its Chinese owner ByteDance. Trump said the deal complies with a law that would have forced the shutdown of the app for American users had it not been divested and sold to a US owner.
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