AP Photo/Alex Brandon

• Trump issued an executive order Thursday evening prohibiting US companies from making "any transactions" with TikTok's parent company ByteDance.
• The order is set to go into effect in 45 days.
• Trump said he would ban the app from the US, citing national security concerns, though it's not clear he has the authority to do that.
• Microsoft has been in talks to acquire the app, and Trump expressed that he would be open to a deal between the companies earlier this week.
• This is a developing story; check back for updates.
• Visit Business Insider's homepage for more stories.

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See Also:

• TikTok doubles down in Europe with new $500 million Irish data center as it faces being hounded out of the US
• Buying TikTok's US operations could reportedly cost Microsoft anywhere from $10 billion to $30 billion
• No, Donald Trump can't 'ban' TikTok