President Donald Trump on Thursday signed an executive order that allows TikTok's U.S. operations to be moved away from the social media app's China-based owner ByteDance.

The deal will see TikTok's U.S. operations separated from ByteDance to comply with a law that bans social media platforms subject to control by adversarial foreign governments like China.

Trump said that he has "great respect for President Xi" and added that he "very much appreciated that he approved the deal, because to get it done properly, we really needed the support of China, the approval of China."

The president said that the administration will be "announcing different things, but the U.S. comes out great, and I think China comes out great because they can have a very important legacy, and they have many other

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