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UNITED STATE- US President-elect Donald Trump has announced on Saturday that he plans to reinstate TikTok's operations in the U.S. via an executive order, expressing his desire for America to hold a 50% stake in the social media platform.
“I’m urging companies not to let TikTok remain inactive! I will sign an executive order on Monday to delay the enforcement of the law’s restrictions, allowing us to negotiate a deal that safeguards our national security,” Trump stated on Truth Social.
As the president elect prepares to take office as the 47th President of the United States on Monday, he emphasized that the U.S. should possess a 50% share in the platform.
“I envision the United States having a 50% ownership in a joint venture. This approach would preserve TikTok, ensure it remains in responsible hands, and keep it operational. Without U.S. endorsement, TikTok cannot exist. With our backing, it could be valued at hundreds of billions—potentially trillions. Thus, my preliminary idea is to establish a joint venture involving the current and/or new owners, where the U.S. secures a 50% stake in a partnership formed between the U.S. and any chosen buyer,” Trump elaborated.
TikTok ceased its operations in the U.S. on Sunday after a law mandated its owner to either sell the platform to an American entity or face a ban in the country.
On Friday, the U.S. Supreme Court rejected an appeal against the legislation prohibiting TikTok. The Supreme Court, citing “national security,” determined that the law aimed to protect user data from the platform's Chinese ownership. “TikTok possesses unique traits—a foreign adversary’s capacity to exploit its control over the platform to gather extensive personal data from 170 million U.S. users,” the Supreme Court ruling stated.
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