Trump Signs Order to Facilitate TikTok Sale to US Buyers
US President Donald Trump signed an executive order on Thursday, declaring that a plan to sell TikTok's US operations met legal requirements. The proposed deal allows TikTok to continue operating in the US and is valued at $14 billion (€12 billion), according to Vice President JD Vance.
The deal ensures "American investors will actually control the algorithm," Vance said in a statement posted on X, adding that it protects Americans' data security. Former US President Joe Biden signed off on legislation last year that would force TikTok's Chinese owner, Bytedance, to sell off TikTok's assets to an American firm.
TikTok has been under scrutiny for its ties to China and concerns over data security. The platform has faced criticism from lawmakers who have accused it of censoring content and sharing user data with the Chinese government. In response, Bytedance agreed to sell off TikTok's US operations to an American company in a bid to alleviate these concerns.
The proposed deal is seen as a compromise between the Trump administration and Bytedance. While some critics argue that the sale does not go far enough in addressing national security concerns, others see it as a step forward in protecting Americans' data security.
"We're pleased that this deal has been approved," said a spokesperson for Bytedance. "It's a positive development for TikTok users and employees."
However, some lawmakers remain skeptical about the deal. Senator Marco Rubio (R-FL) expressed concerns that the sale does not address the underlying issues with TikTok's data security.
"While we welcome the sale of TikTok's US operations to an American company, we must ensure that this new entity is transparent and accountable," Rubio said in a statement.
The proposed deal still requires approval from regulators before it can be finalized. The Federal Trade Commission (FTC) has announced that it will review the deal to ensure that it complies with antitrust laws.
As the sale process moves forward, TikTok users will continue to use the platform without interruption. However, the fate of the company's Chinese operations remains uncertain, and Bytedance has yet to comment on its plans for the global business.
The sale of TikTok's US operations marks a significant shift in the country's approach to regulating social media companies. As lawmakers grapple with the implications of this deal, one thing is clear: the future of TikTok in the US is far from certain.
*Reporting by Dw.*
