President Joe Biden signed a new executive order on Wednesday local time, revoking a ban on TikTok and Wechat during former President Donald Trump's presidency and ordering the Commerce Department to conduct a security review of the apps, according to media reports.

Meanwhile, Biden's Executive Order on Protecting Americans' Sensitive Data from Foreign Adversaries directs Commerce Secretary Gina Raimondo to investigate foreign apps that could pose a threat to U.S. data privacy or national security. The order also requires the Commerce Department to "continuously evaluate" any transactions that could have a "catastrophic impact on the safety or resilience of U.S. critical infrastructure or the digital economy.