(NewsNation) — The White House on Monday unveiled the details of a proposed deal between the United States and China to protect TikTok’s accumulation of Americans' data from the Chinese government.

A new joint venture between U.S. investors and ByteDance, TikTok’s owner, will be formed, a senior White House official told reporters. ByteDance will only be able to own up to 20%, according to the official. As part of the agreement, the app's key algorithm, now controlled by China and which houses U.S. users’ information, will be moved under the control of this new entity, which will be based in the U.S.

“We are going to save TikTok to make sure it is safe,” the White House official told reporters.

President Donald Trump is expected to sign an executive order later this week guaranteeing th

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