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Trump reveals TikTok saving strategy
(MENAFN) President-elect Donald Trump revealed plans to issue an executive order to delay the shutdown of TikTok in the U.S., which had been mandated by Washington. This announcement came just hours after the popular video app went offline for its 170 million American users. In a post on his social media platform, Truth Social, Trump stated that he would work towards a deal to allow U.S. companies to acquire a 50% stake in TikTok through a joint venture. He expressed his intention to extend the timeline for the shutdown, allowing more time to make a deal that would protect U.S. national security.
"I’m asking companies not to let TikTok stay dark!" Trump wrote. "I will issue an executive order on Monday to extend the period of time before the law’s prohibitions take effect, so that we can make a deal to protect our national security. The order will also ensure that no company will face liability for helping to keep TikTok operating before my order." Trump also emphasized the value of TikTok, saying, "Without US approval, there is no TikTok. With our approval, it is worth hundreds of billions of dollars - maybe trillions."
The shutdown came after TikTok’s parent company, ByteDance, failed to meet the January 19 deadline set by the U.S. government to sell its American operations. This was in compliance with the Protecting Americans from Foreign Adversary Controlled Applications Act, which was upheld by the Supreme Court on Friday. This law cited national security concerns and required the sale or shutdown of the app. Along with TikTok, ByteDance's other apps, such as CapCut and Lemon8, were also removed from U.S. app stores. As TikTok went dark, the Chinese app RedNote emerged as the most downloaded free app on Apple’s App Store, with many Americans switching platforms and adopting the "#tiktokrefugee" hashtag. Trump's executive order will grant ByteDance a 90-day extension to find an approved buyer. TikTok’s CEO, Shou Zi Chew, is expected to attend Trump’s inauguration on Monday, according to sources. Neither the White House nor TikTok has yet commented on the situation.
"I’m asking companies not to let TikTok stay dark!" Trump wrote. "I will issue an executive order on Monday to extend the period of time before the law’s prohibitions take effect, so that we can make a deal to protect our national security. The order will also ensure that no company will face liability for helping to keep TikTok operating before my order." Trump also emphasized the value of TikTok, saying, "Without US approval, there is no TikTok. With our approval, it is worth hundreds of billions of dollars - maybe trillions."
The shutdown came after TikTok’s parent company, ByteDance, failed to meet the January 19 deadline set by the U.S. government to sell its American operations. This was in compliance with the Protecting Americans from Foreign Adversary Controlled Applications Act, which was upheld by the Supreme Court on Friday. This law cited national security concerns and required the sale or shutdown of the app. Along with TikTok, ByteDance's other apps, such as CapCut and Lemon8, were also removed from U.S. app stores. As TikTok went dark, the Chinese app RedNote emerged as the most downloaded free app on Apple’s App Store, with many Americans switching platforms and adopting the "#tiktokrefugee" hashtag. Trump's executive order will grant ByteDance a 90-day extension to find an approved buyer. TikTok’s CEO, Shou Zi Chew, is expected to attend Trump’s inauguration on Monday, according to sources. Neither the White House nor TikTok has yet commented on the situation.
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