The company will be "operated in the US by a board of directors with national security and cybersecurity credentials, and subject to strict rules to protect Americans’ data and our national security," the document, published by the White House, says

Trump says a deal is done but the details have not been confirmed by China or the app's owner ByteDance.

Much is still unknown about the actual arrangement, but Trump said Chinese President Xi Jinping “gave us the go-ahead” to proceed with the deal.