President Donald Trump is expected to sign an executive order on Thursday confirming the TikTok deal complies with the law, allowing the social media platform to avoid a ban, a White House official told FOX Business.
The White House said earlier this week that Trump would announce that a TikTok deal, which shifts the app’s U.S. operations away from its Chinese owner ByteDance, meets the requirements of a 2024 law. Oracle and Silver Lake are among the investors, Reuters reported.
BESSENT SAYS US, CHINA HAVE ‘FRAMEWORK’ ON TIKTOK DEAL
“The administration looks forward to finalizing this deal with all stakeholders,” a White House official told Fox News Digital on Monday. “President Trump is expected to sign an Executive Order later this week to approve the proposed deal.”
TRUMP HINTS END OF TARIFF SPAT WITH CHINA MAY BE IN SIGHT, SAYS TIKTOK DEAL MUST WAIT
Congress passed a bipartisan law last year, signed by former President Joe Biden, prohibiting TikTok and other apps tied to foreign adversaries.
After surviving a Supreme Court challenge, the measure took effect on Jan. 19, 2025, though it allowed a 90-day extension.
PRESIDENT TRUMP VOWS TO EXTEND ‘TIK TOK’ BAN DEADLINE UNTIL A DEAL IS STRUCK
The app was banned amid national security concerns over Chinese access to user data and possible foreign influence.
ByteDance refused to sell TikTok, and after President Trump took office, he issued an initial 75-day delay in enforcing the law.
This was followed by another 75-day extension in April and a 90-day extension in June that was due to expire last week.
FOX Business’ Edward Lawrence, Brooke Singman and Eric Revell contributed to this report.
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