US President Donald Trump has signed an executive order approving a deal to allow TikTok to continue its operations in the USA. The deal is worth $14 billion in valuation as per an estimate by Vice President JD Vance, though he didn’t disclose the purchase price. Following the executive order, ByteDance will retain a minor stake of just about 20 percent in TikTok’s total valuation.
After signing the TikTok deal, Trump stated, “This is interesting because I had a very good talk with President Xi, a lot of respect for him. Hopefully, he has a lot of respect for me, too. We talked about TikTok, and he gave us the go-ahead.”
Trump went on to shower praise on the US companies. “You know, it’s (TikTok) run by American investors and American companies, great ones, great investors, the biggest. The young people really wanted this to happen. We have American investors taking it over, running it, highly sophisticated, including Larry Ellison and Oracle, I guess, is going to play a very big role in terms of security, safety, and everything else,” he added.
While the TikTok deal strengthens the US-China ties, Trump’s latest announcement on imposing a 100% tariff on pharmaceutical products will severely hit Indian pharma companies. “Starting October 1st, 2025, we will be imposing a 100% Tariff on any branded or patented Pharmaceutical Product, unless a Company IS BUILDING their Pharmaceutical Manufacturing Plant in America,” Trump wrote in his latest Truth Social.
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