Trump To Delay TikTok Ban, Proposes US Part-Ownership
Says he would like the US to have a 50% ownership position in a joint venture, arguing that app's value could surge to hundreds of billions of dollars
Trump To Delay TikTok Ban, Proposes US Part-Ownership
Trump's announcement came on Sunday, hours after TikTok went dark in the US under a law banning it in the name of national security, as a deadline for its Chinese owners ByteDance to sell its US subsidiary to non-Chinese buyers lapsed
Washington: President-elect Donald Trump has vowed to issue an executive order delaying a looming ban on the widely popular app to allow time to "make a deal" and called for the US to take part-ownership in TikTok.
Trump's announcement came on Sunday, hours after TikTok went dark in the US under a law banning it in the name of national security, as a deadline for its Chinese owners ByteDance to sell its US subsidiary to non-Chinese buyers lapsed.
The law however includes a clause allowing for a 90-day delay if the White House can show progress toward a viable deal, but so far ByteDance has flatly refused any sale.
Outgoing President Joe Biden's administration said it would leave the matter to Trump -- who takes office on Monday -- and that it would not enforce any ban.
"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," Trump said on his Truth Social platform.
He said he "would like the US to have a 50 per cent ownership position in a joint venture," arguing that the app's value could surge to "hundreds of billions of dollars -- maybe trillions".
"By doing this, we save TikTok, keep it in good hands," Trump wrote.
But Tiktok is also rife with disinformation, and its Chinese ownership has long spurred national security fears, internationally as well as in the US.
In an earlier message to dismayed users trying to access the app on Sunday, TikTok said "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!"
Trump, who had previously backed a TikTok ban and during his first term in office made moves towards one, did not offer further details on how such a deal would work.
Sunday's blackout came after the US Supreme Court on Friday upheld the legislation banning it pending any sale.
