Donald Trump on Thursday signed an executive order laying out a proposed deal for a US version of TikTok that would put control of the app in the hands of the president’s allies.

The deal would see Chinese ownership of TikTok reduced to 20 percent in the United States, and Beijing on Friday reiterated a call for “open, fair” treatment on the issue.

The phenomenally popular short-form video platform says it has over 170 million US users — nearly half the population of the world’s top economy.

But national security concerns have led Washington to try and wrest TikTok’s US operations from the hands of Chinese parent company ByteDance.

At a signing ceremony at the White House on Thursday, Trump said the US version of the app would be run by “highly sophisticated” investors, all his allies,

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