United States President-elect Donald Trump has announced that he would delay a ban on TikTok and suggested that the United States should take part-ownership in the popular social media app. The move follows the expiration of a deadline for TikTok’s Chinese parent company, ByteDance, to sell its US subsidiary.
In his statement on Truth Social, Trump confirmed that he would issue an executive order on Monday to extend the law’s prohibitions, giving time for negotiations to reach a deal to ensure national security. He proposed that the US acquire a 50% stake in a joint venture, claiming that this could boost TikTok’s value significantly, potentially reaching trillions of dollars.
TikTok, which has gained massive popularity for its viral videos, also faces concerns over national security due to its Chinese ownership, sparking fears of potential data misuse. Despite previous efforts to ban the app under his administration, Trump acknowledged TikTok’s role in connecting him with younger voters.
The deadline passed after the US Supreme Court upheld the legislation banning TikTok pending a sale. Trump’s suggestion is the latest development in ongoing efforts to resolve the issue, with other potential offers for TikTok’s US assets, including a proposal by Perplexity AI valued at $50 billion.
