President Donald Trump approved the TikTok U.S. deal on Sept. 25, signing an executive order that will give China-based ByteDance 120 days to finalize terms with American investors.
The United States in 2024 enacted a law that required ByteDance, a foreign adversary-controlled company, to divest itself of the popular social media app. Pursuant to the law, ByteDance will be limited to holding a stake of less than 20 percent in the new joint venture.
