Trump and Xi Finalize TikTok Deal Shifting Majority US Ownership

US President Donald Trump signed an executive order approving a landmark deal that transitions TikTok's US operations to majority American ownership, following direct approval from Chinese President Xi Jinping. Under the new arrangement, ByteDance, TikTok's Chinese parent company, will hold less than 20% ownership of the US-based joint venture, while American investors, including tech giant Oracle and media mogul Rupert Murdoch, will control the majority. This deal aims to address national security concerns by placing TikTok's content moderation and data management under US oversight, with Oracle responsible for algorithm supervision to protect user data and prevent propaganda. The agreement aligns with the 2024 Foreign Adversary Controlled Applications Act and follows earlier threats to ban TikTok in the US. Trump emphasized that the deal not only secures American data privacy but also supports American content creators and businesses relying on the platform. While the deal has faced some resistance from China, US officials express confidence that it ensures safer use of TikTok for American users.