Washington, Sep 26 (NationPress) US President Donald Trump has officially endorsed an executive order facilitating the continuation of TikTok in the United States. During the signing ceremony at the White House on Thursday, Trump remarked on his "very productive conversation with President Xi" and noted that "he granted us the green light" for the agreement.

According to the provisions of this Executive Order, the TikTok application in the US will be managed by a "newly formed joint venture established within the US borders."

"This venture will be predominantly owned and governed by American entities, ensuring it is no longer under the influence of any foreign adversary," he stated.

A consortium of American investors, including Oracle, Silver Lake, and several others, will possess the majority share of this newly formed enterprise.

The order also specifies that ByteDance, TikTok's Chinese parent company, will hold "less than 20 percent of the new entity."

Vice President JD Vance revealed that the TikTok US branch is projected to be valued at $14 billion.

"Our goal was to ensure the continuation of TikTok while safeguarding Americans' data privacy as mandated by law. This agreement guarantees that users can enjoy TikTok with enhanced confidence because their data will be secure and not weaponized for propaganda against our citizens," he elaborated.

Vance further highlighted that the American investors will oversee TikTok’s algorithm.

"This agreement ensures that American stakeholders will control the algorithm. We aim for our people and investors to make decisions based on their business interests rather than the interests of a foreign government's propaganda arm," he explained.

Last week, US President Donald Trump spoke with Chinese President Xi Jinping, announcing that the Chinese leader had sanctioned the TikTok deal, enabling the social media platform to maintain its operations in the United States.