United States President Donald Trump has signed an executive order outlining ByteDance’s divestment plan for the short-form video app TikTok. The plan shifts control of its US assets to a group of new investors, including Oracle.

The order was signed on Thursday in the Oval Office and sets a period of 120 days for divestiture to take place.

It is expected to satisfy a law that requires China-based ByteDance to sell its US assets in order to avoid a ban.

The law, passed by Congress, set a deadline of January for the sale, and Trump has postponed that deadline four times – in February, April, June and last week – to ensure the popular short-form video app is not banned.

“There was some resistance on the Chinese side, but the fundamental thing that we wanted to accomplish is that we wante

See Full Page