Trump Signs TikTok Deal Giving U.S. Investors Majority Control After Call With Xi
President Donald Trump signed an executive order Thursday approving the transfer of TikTok’s U.S. operations to a consortium of American investors, saying the move followed a “very good talk with President Xi.”
Trump, speaking from the Oval Office, said the deal ensures that American investors will hold majority control over the platform, which has long drawn scrutiny for its ties to Beijing-based ByteDance. He is also scheduled to meet Chinese President Xi Jinping in South Korea during next month’s APEC summit.
“We have great American investors who are prepared to take over TikTok,” Trump said, though he declined to name them all. He emphasized that the platform would now guarantee fairness in its algorithm and treatment of content. “If I could make it 100% MAGA, I would, but it’s not going to work out that way. Unfortunately, no, everyone’s going to be treated fairly. Every group, every philosophy, every policy will be treated very fairly.”
Vice President JD Vance, who joined Trump at the signing, explained that the crucial change in the agreement was who controls the algorithm. “What this deal ensures is that the American entity and the American investors will actually control the algorithm,” Vance said. “We don’t want this used as a propaganda tool by any foreign government. We want to make sure that our people and our investors make these decisions based on what’s good for business, not what’s good for another government’s propaganda arms.”
The arrangement follows bipartisan legislation signed by Joe Biden in April 2024, which required ByteDance to reduce its stake in TikTok to 20 percent or face a nationwide ban in the U.S. Both Biden and Trump delayed enforcement of that law, with Trump arguing a blanket ban could strengthen the dominance of U.S. tech giants already accused of censoring political speech.
The executive order declared that the new deal meets the conditions for a “qualified divestiture” under the law, ensuring TikTok can continue operating in the U.S. under majority American control.