President Donald Trump signed an executive order on Thursday declaring that his plan to sell Chinese-owned TikTok's U.S. operations to U.S. and global investors will address the national security requirements in a 2024 law, Reuters reported.
The new U.S. company will be valued at around $14 billion, Vice President JD Vance said, putting a price tag on the popular short video app far below some analyst estimates.
Trump on Thursday delayed until January 20 enforcement of the law that bans the app unless its Chinese owners sell it amid efforts to extract TikTok's U.S. assets from the global platform, line up American and other investors, and win approval from the Chinese government, according to Reuters.
