() The White House on Monday unveiled the details of a proposed deal between the United States and China to protect TikTok’s accumulation of Americans’ data from the Chinese government.

A new joint venture between U.S. investors and ByteDance, TikTok’s owner, will be formed, a senior White House official told reporters. ByteDance will only be able to own up to 20%, according to the official. As part of the agreement, the app’s key algorithm, now controlled by China and which houses U.S. users’ information, will be moved under the control of this new entity, which will be based in the U.S.

“We are going to save TikTok to make sure it is safe,” the White House official told reporters.

President Donald Trump is expected to sign an executive order later this week guaranteeing the plan meets the demands set by Congress to guarantee the safety of Americans’ data. Congress required ByteDance to divest from the social media app or face a ban on U.S. networks and app stores.

Once the executive order is signed, a 120-day clock will begin counting down, during which both the U.S. and China will complete their regulatory reviews. During that period,  China must issue an export license, and the U.S. must conduct an anti-trust review. ByteDance and managers of the U.S. effort will then sign a final agreement, the White House official said.

Some members of Congress have raised issues about the deal.

“Based on initial reports, I am concerned the reported licensing deal may involve ongoing reliance by the new TikTok on a ByteDance algorithm and application that could allow CCP (Chinese Communist Party) control or influence,” said Rep. John Moolenaar, R-Mich., chairman of the House Select Committee on China. “I look forward to receiving full details on the deal and discussing these issue with the transaction parties to ensure any deal adheres to the law’s legal requirements.”

“We hear the concerns,” the White House official said. “We feel confident this complies with the law.”

Software giant Oracle will serve as the security provider for the deal, according to the White House official. The company is responsible for the algorithm and guaranteeing the safety of Americans’ data.

The details of the agreement were unveiled following a call between Trump and China’s President Xi Jinping on Friday, as well as talks between the countries last week. In a readout of that phone call, China discussed additional negotiations while the U.S. said the deal had been set.

The White House official on Monday said the U.S. did not expect any further talks: “We feel confident China has approved the deal.”

The administration has defended the agreement, stating it will “save” TikTok for 170 million American users as well as guarantee its critical use for thousands of businesses.

The final value of the deal has not been set, though the White House official said it would be “in the many billions of dollars.” In addition to Oracle, private equity firm Silver Lake and other U.S. and global investors will be included, according to the official. Some of those investors already have stakes in ByteDance.

As for what the U.S. may receive in the agreement, the White House official denied reports of a “golden share” and said the U.S. government would not be taking any equity in the deal and that there would be no Trump administration official sitting on the app’s new board.