President-elect Donald Trump demands U.S. ownership announcing his intention for TikTok, the popular Chinese-owned short-form video app, to be at least 50% owned by U.S. investors. Speaking at a rally in Washington on Sunday, Trump emphasized that TikTok’s future in the U.S. hinges on government approval.
TikTok’s U.S. Value Depends on Approval
“But let the United States of America own 50% of TikTok,” Trump declared to his supporters. “TikTok is worth nothing, zero, without an approval. If you do approve, they’re worth like a trillion dollars, some crazy number.” He described his plan as a joint venture that would include the U.S. as a partner, ensuring both ownership and government oversight.
Temporary Service Disruption Explained
On Sunday, TikTok services were briefly blocked for U.S.-based users, leaving many unable to access the app for approximately 12 hours. The disruption resulted from new U.S. legislation mandating TikTok’s sale by its Chinese parent company, ByteDance, or the platform would face a national ban.
The service resumed after Trump assured TikTok’s service providers that they would not face penalties. TikTok later posted on X:
“In agreement with our service providers, TikTok is in the process of restoring service. We thank President Trump for providing the necessary clarity and assurance to our service providers.”
Executive Order to Extend Timelines
In a related move, Trump announced plans to issue an executive order on Monday, the day of his inauguration. This order aims to extend the timeline for compliance with the new law, allowing negotiations to protect U.S. national security while avoiding penalties for involved companies.
TikTok’s Role in U.S. Economy
TikTok has over 170 million American users and supports more than 7 million small businesses. Trump noted its importance in broadcasting his inauguration, highlighting the app’s significant role in American culture and commerce.
What You Should Know About the TikTok Ban
TikTok has been at the center of U.S. national security debates due to its data collection practices and alleged ties to the Chinese government. A bipartisan bill signed by President Joe Biden previously required ByteDance to divest its controlling stake in TikTok within six months or face a ban.
The recent developments underline growing regulatory tensions and the platform’s immense influence on the U.S. digital landscape.
