Washington: US President Donald Trump on Thursday signed an executive order to approve the deal that puts Chinese social network TikTok's US operations under the control of American businesses. The executive order marks a significant shift in the management of the social media platform, ensuring that its operations in the United States will be steered by American stakeholders.

According to Philippines News Agency, the document, published by the White House on its website, outlines that TikTok's US application will be managed by a new joint-venture company based in the United States. This venture will be governed by a board of directors who possess national security and cybersecurity expertise, ensuring adherence to stringent regulations aimed at safeguarding American data and national security interests.

The executive order specifies that the new company will be majority-owned by US investors, a move designed to reduce foreign influence and enhance domestic oversight. The White House further elaborated that the Chinese parent company, ByteDance, will retain less than 20 percent of the stock in the restructured entity. This arrangement reflects a strategic effort to balance international business interests with national security concerns.