Trump's Tactical TikTok Turnaround
President Donald Trump signed an executive order to facilitate the sale of TikTok's U.S. operations, ensuring compliance with a 2024 law to prevent a ban. Valued at $14 billion, the new U.S. entity aims to safeguard data privacy while meeting Chinese and American investment and operational conditions.
In a strategic move to protect data privacy, President Donald Trump signed an executive order focusing on TikTok's U.S. operations. The plan, which seeks to transition TikTok into an American-controlled entity, aligns with a 2024 law mandating the sale of the app by its Chinese owners to avoid a ban.
The new company, estimated at a valuation of $14 billion, has seen its enforcement deadline extended to December 16. This allows more time to navigate the complexities of extracting TikTok's U.S. assets, securing American investments, and obtaining necessary approvals from the Chinese government, according to Vice President JD Vance.
Highlighting TikTok's role in his reelection, Trump emphasized data protection for the app's 170 million U.S. users. He further asserted that the revamped operational structure would ensure complete American management, reflecting his administration's commitment to data security.
(With inputs from agencies.)
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