Microsoft Corp. said it will move forward with plans to buy the U.S. operations of the hit video-sharing app TikTok, capping weeks of covert dealmaking that were almost upended by an 11th-hour intervention from President Trump.

The transaction could reshape the global tech landscape and further strain already tense U.S.-China relations.

“Microsoft appreciates the U.S. Government’s and President Trump’s personal involvement as it continues to develop strong security protections for the country,” the company said in its statement. It added it would ensure that the data of American TikTok users is transferred to the U.S., where it would remain.

Trump OK with Microsoft buying TikTok, says app will close Sept. 15 if no acquisition

More From The Wall Street Journal (subscription required):