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President Donald Trump advanced plans for American investors to buy TikTok’s US operations from its Chinese owner ByteDance Ltd., with officials setting a potential value of $14 billion and outlining measures to ensure security of the new venture.

In an executive order signed Thursday at the White House, Trump declared that the deal complies with a 2024 law requiring ByteDance to divest control or face a prohibition in the US of the popular video-sharing platform. Trump also reiterated that he had won approval from his Chinese counterpart, Xi Jinping, for the deal.

“I had a very good talk with President Xi,” Trump told reporters in the Oval Office of the White House. “We talked about TikTok a

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