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‘Young people really wanted this’: Trump approves TikTok deal with China; US takeover set
Donald Trump signed an executive order finalizing a deal allowing TikTok to operate in the US, with a majority stake moving to US investors like Oracle and Silver Lake. ByteDance will retain less than 20% equity. Much is still unknown about the actual arrangement, but Trump said Chinese President Xi Jinping “gave us the go-ahead” to proceed with the deal.