Trump set to approve TikTok deal ensuring majority-American investor control: White House

President Donald Trump is expected to approve a proposed deal this week that would ensure TikTok in the United States is majority-owned by American investors and keep user data in a "trusted" cloud in the U.S., a senior White House official told Fox News Digital.

The White House official said that under the new deal, U.S. operations will be run by a new joint-venture company, with its current parent company, ByteDance, holding less than 20% of the stock, as required by law.