Summary
- President Trump signed an executive order to maintain TikTok's U.S. business.
- The measure attracted investor attention because prohibitory measures could be imposed if ByteDance does not complete the sale of TikTok's U.S. business.
- If the deal is completed, ByteDance will hold less than 20% of the stake, and final approval from the Chinese government is required.
On the 25th (local time), according to the breaking economic news channel Walter Bloomberg, U.S. President Donald Trump signed an executive order to allow the Chinese company ByteDance's video-sharing platform TikTok to maintain its business in the United States.
At the signing ceremony held in his office, President Trump said, "TikTok is now American-owned and will be operated by Americans."
This executive order is a measure to resolve a situation in which, under U.S. national security law, ByteDance would be subject to prohibitive measures if it does not sell TikTok's U.S. business. According to the terms of the deal, final approval from the Chinese government is required, and TikTok's U.S. business will be operated by a new joint venture, with ByteDance holding less than 20% of the stake.
JH Kim
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