TikTok

The all-stock transaction revolved around a small Chinese firm with less than $6 million in revenues, which went public just six months ago and saw its stock skyrocket over 650%

US President Donald Trump signed an executive order on Thursday laying out his plan to sell Chinese-owned TikTok to US and other global investors, most of whom are his allies.

The call on Friday, the first between the two leaders since June, was also set to focus on the ongoing trade war between the world’s two largest economies.

The rocky rollout of the president’s official presence on the social platform showcases the challenges he faces among younger people online.

A successful TikTok deal would end China’s leverage over the social media app in the U.S. — and Trump’s too.

President plans to begin discussions with China as soon as Monday