President Donald Trump is expected to sign an executive order on Thursday confirming the TikTok deal complies with the law, allowing the social media platform to avoid a ban, a White House official told FOX Business.
The White House said earlier this week that Trump would announce that a TikTok deal, which shifts the app's U.S. operations away from its Chinese owner ByteDance, meets the requirements of a 2024 law. Oracle and Silver Lake are among the investors, Reuters reported.
President Donald Trump is expected to sign an executive order on Thursday confirming the TikTok deal complies with the law, allowing the social media platform to avoid a ban, a White House official told FOX Business. (Reuters/Dado Ruvic/File Photo / Reuters)
Congress passed a bipartisan law last year, signed by former President Joe Biden, prohibiting TikTok and other apps tied to foreign adversaries. After surviving a Supreme Court challenge, the measure took effect on Jan. 19, 2025, though it allowed a 90-day extension.
The app was banned amid national security concerns over Chinese access to user data and possible foreign influence.
ByteDance refused to sell TikTok, and after President Trump took office, he issued an initial 75-day delay in enforcing the law. This was followed by another 75-day extension in April and a 90-day extension in June that was due to expire last week.
FOX Business' Edward Lawrence and Eric Revell contributed to this report.