Trump Signs TikTok Order With US App Valued at $14 Billion (2)

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 and other things, but we talked about TikTok and he gave us the go-ahead.”

The deal Trump is seeking to finalize would spin out TikTok’s US business into a new, US-based venture owned mainly by American investors, with ByteDance’s…