On Sunday, U.S. President-elect Donald Trump announced plans to sign an executive order delaying the ban on TikTok when he assumes office on Monday. He also proposed that the United States acquire a 50% stake in the popular Chinese video-sharing app.
Trump’s Proposal for Joint Ownership of TikTok
“I would like the United States to have a 50% ownership position in a joint venture. So that we can make a deal,” Trump shared on his Truth Social platform. His executive order aims to delay the implementation of the TikTok ban and assure companies that they will not face liability for keeping the app operational before his order is enacted.
Trump explained that his order would “extend the period of time before the law’s prohibitions take effect” and ensure that Americans can access TikTok for upcoming events, including his inauguration. “Americans deserve to see our exciting Inauguration on Monday, as well as other events and conversations,” he wrote.
Trump’s Vision for a TikTok Joint Venture
The Republican leader suggested creating a joint venture between TikTok’s current owners and new U.S.-based stakeholders. “A joint venture between the current owners and/or new owners whereby the U.S. gets a 50% ownership,” Trump proposed, emphasizing the importance of U.S. involvement in the app’s operations.
The law grants the sitting president the authority to approve a 90-day extension if a potential sale is underway. While some investors have shown interest, TikTok’s parent company, ByteDance, has previously stated it would not sell the app outright.
Trump’s Plan To Save TikTok
“By doing this, we save TikTok, keep it in good hands, and allow it to stay up,” Trump asserted. “Without U.S. approval, there is no TikTok. With our approval, it is worth hundreds of billions of dollars — maybe trillions.”
As of Saturday night, millions of TikTok users in the U.S. found themselves unable to access the platform. A pop-up message greeted users who tried to scroll through videos, stating: “A law banning TikTok has been enacted in the U.S. Unfortunately, that means you can’t use TikTok for now.”
