President Donald Trump is set to sign an executive order later this week declaring that a deal on TikTok’s U.S. operations meets the requirements of a 2024 law, a White House official said Monday.
The U.S. is confident that China has approved the deal and does not plan further negotiations with Beijing, the official added.
Under the agreement, TikTok’s U.S. operations would move into new joint ventures. Oracle will handle security and be allowed to review TikTok’s algorithm. Security measures will take effect once the deal closes.
White House officials said the arrangement could generate hundreds of billions of dollars in economic activity over the next five years. The investment group will include both U.S. and international firms, with Oracle and Silver Lake confirmed as investors. Officials emphasized that Trump wants investors who are “patriotic” and will “bring value” to the venture.
The U.S. government will not take equity, hold a board seat, or have a “golden share” in the new structure.
Officials noted that while regulatory hurdles are expected to be cleared, paperwork and approvals will still be needed in both countries. This may include a Chinese export license and U.S. antitrust review.
