Trump To Revive TikTok With Executive Order, Wants 50% US Ownership- wna24
Washington DC: Amidst suspense over TikTok’s fate in the United States, President-elect Donald Trump announced that he will issue an executive order to revive TikTok’s access in the US. This comes after the popular social media app stopped working for its 170 million American users on Saturday, following a law that took effect on Sunday citing national security concerns.
Reports suggested that Trump wanted TikTok to be at least 50 percent owned by US investors, proposing a joint venture to protect national security. “I would like the United States to have a 50% ownership position in a joint venture. By doing this, we save TikTok, keep it in good hands and allow it to stay up,” he wrote on Truth Social.
The executive order regarding Trump’s announcement is set to be issued on Monday, which is likely to extend the period before the law’s prohibitions take effect, allowing time for a deal to be made. Trump also assured that companies helping to keep TikTok alive before the order will not face liability.
Trump had earlier said he would most likely give TikTok a 90-day reprieve from the ban after he takes office, a promise TikTok cited in a notice posted to users on the app. “A law banning TikTok has been enacted in the US. Unfortunately, that means you can’t use TikTok for now. We are fortunate that President Trump has indicated that he will work with us on a solution to reinstate TikTok once he takes office. Please stay tuned,” a message notified users of TikTok, which disappeared from Apple and Google app stores late on Saturday.
The experts stated that even if temporary, the unprecedented shutdown of TikTok is set to have a wide-ranging impact on the US-China relations, US politics, the social media marketplace and millions of Americans who depend on the app economically and culturally.
Other apps owned by ByteDance, including video editing app CapCut and lifestyle social app Lemon8, were also offline and unavailable in the US app stores as of late Saturday.
Earlier, the US government had raised concerns about TikTok’s Chinese parent company, ByteDance, potentially misusing American users’ data. As a result, a law was passed requiring ByteDance to sell its US operations or face a ban. Despite this, no clear buyers emerged, and ByteDance refused to sell.
Meanwhile, Trump’s move to revive TikTok has sparked interest, with many wondering what this means for the future of the app. The experts are speculating on whether TikTok will be able to meet Trump’s demands and secure a joint venture.