President Donald Trump signed an executive order on Thursday outlining his plan to sell Chinese-owned TikTok to American and international investors.
This presidential decree supports the agreement to place TikTok under American ownership and thus allow it to continue operating in the United States while addressing national security concerns outlined in the law.
Last year, President Joe Biden signed a law requiring the Chinese company ByteDance to sell TikTok's assets to an American company before the start of the year, or face a ban, but Mr. Trump has since repeatedly signed executive orders that have allowed TikTok to continue operating in the United States, while his administration tries to reach an agreement for the sale of the company.
Much is still unknown about the ongoing agreement other than that it would reduce China's stake in TikTok in the United States to 20%, but Mr. Trump said on Thursday that Chinese leader Xi Jinping had agreed to move forward.
Beijing reiterated on Friday its call for an "open and fair" treatment on this issue.
The short video platform claims to have more than 170 million users in the United States, which is nearly half of the American population.
