Trump's Executive Order: TikTok Trade-Off

President Trump is set to sign an executive order to finalize the sale of TikTok's U.S. operations, adhering to a 2024 law that mandates the divestment from Chinese ownership. This comes amid Trump's acknowledgment of TikTok's influence and the launch of an official White House account.

President Donald Trump is poised to issue an executive order aimed at sealing a deal that ensures TikTok's U.S. operations comply with a federal divestiture law scheduled for 2024. A White House insider confirmed the impending order, which could significantly impact the tech landscape.

Earlier in the week, the White House announced Trump's intention to affirm the compliance of the TikTok sale, moving its U.S. operations away from Chinese-owned ByteDance. This move comes as TikTok, boasting 170 million American users and credited by Trump for political gains, walks a tightrope amidst legislative scrutiny.

While the enforcement of the law is postponed until mid-December, efforts continue to release TikTok's U.S. enterprise from its global parentage. American investors are lining up to ensure full separation is achieved under the law's stipulations, with further extensions likely in the executive order.

(With inputs from agencies.)