President Donald Trump signed an executive order on Thursday clearing the way for the completion of a deal to sell TikTok’s US assets to a consortium of mostly American investors.
The order marks an important procedural step toward finalizing the TikTok sale, but the deal is not yet complete. Although both US and Chinese officials have signaled they are aligned on the deal’s framework, it will still likely require regulatory approvals from both countries. The full list of investors participating in the deal has not yet been released.
However, during the signing event, Trump said Chinese leader Xi Jinping had green-lit the deal and expressed confidence that it would be completed.
“I had a very good talk with President Xi,” Trump said, referring to a Friday phone call between the two leaders.
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