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US President Donald Trump has officially signed an executive order approving a deal that allows TikTok to continue its operations in the United States. The deal, valued at nearly $14 billion according to Vice President JD Vance, ensures ByteDance will hold only a minor 20% stake in TikTok’s total valuation.
Speaking after signing the order, Trump said, “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 further praised American companies’ involvement. “It’s run by American investors and companies, great ones, 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, which will play a very big role in security and safety,” he noted.
However, Trump also announced a new trade policy that could significantly impact 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 its pharmaceutical manufacturing plant in America,” he wrote on Truth Social.
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