Trump Hopes US Will Own 50% Stake in TikTok
On his first day as President, Monday, Donald Trump announced he would issue an executive
order allowing the operation of the popular app TikTok. Trump expressed his hope that the
United States could own a 50% stake in the app as part of a joint venture.
TikTok, owned by the Chinese company ByteDance, ceased operations for its 170 million
American users earlier on Sunday after a law came into effect, banning the app over fears that
U.S. user data could be misused by Chinese authorities.
Reuters quoted the President-elect, stating, “I would like the United States to have a 50 percent
ownership in a joint venture.” In separate comments made on Saturday, Trump said he would
“most likely” grant TikTok a 90-day reprieve from the potential federal ban after taking office on
Monday. This promise was highlighted by the company in a notice to users since the app has been
unavailable on Apple and Google’s online stores.
The notice displayed to users late on Saturday read, “A law has been passed banning TikTok in the
United States. Unfortunately, you can’t use TikTok at this time. We’re fortunate because President
Trump has indicated he will work with us to find a solution to bring back TikTok once he takes
office. Please stay tuned.”
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