President-elect Donald Trump has announced plans to issue an executive order on Monday, aiming to suspend the impending TikTok ban in the United States. His proposal includes securing 50% U.S. ownership of TikTok through a joint venture model, suggesting a partnership arrangement between current and potential new owners. This move comes in the context of ongoing debates regarding national security, data privacy, and the app’s Chinese ownership by ByteDance. The executive order is intended to extend the period before any legal prohibitions take effect, allowing time for negotiations that would protect U.S. interests. This proposal reflects a significant pivot from Trump’s earlier stance on TikTok when he attempted to ban the app during his presidency over national security concerns.
This is what Donald Trump has posted on Truth Social:
I’m asking companies not to let TikTok stay dark! 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 confirm that there will be no liability for any company that helped keep TikTok from going dark before my order.
Americans deserve to see our exciting Inauguration on Monday, as well as other events and conversations.
I would like the United States to have a 50% ownership position in a joint venture. By doing this, we save TikTok, keep it in good hands and allow it to say up. Without U.S. approval, there is no Tik Tok. With our approval, it is worth hundreds of billions of dollars – maybe trillions.
Therefore, my initial thought is a joint venture between the current owners and/or new owners whereby the U.S. gets a 50% ownership in a joint venture set up between the U.S. and whichever purchase we so choose.
Trump proposes 50% U.S.ownership of TikTok, vows to issue executive order Monday