President Donald Trump has officially signed an executive order that allows TikTok to remain active in the United States under new ownership.

The deal will transfer control of roughly 45% of the social media app’s U.S. business to a group of American investors after months of uncertainty surrounding its future.

The agreement follows a bipartisan law that required TikTok’s China-based parent company, ByteDance , to sell its U.S. assets or face a nationwide ban. Trump confirmed that Chinese President Xi Jinping approved the terms of the deal during a recent phone call.

Vice President JD Vance announced that the new U.S. based company will be valued at around $14 billion and will control TikTok’s algorithm and data security operations, per NBC News and CNBC .

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