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Shortly after his inauguration on Monday, President Donald Trump signed an executive order preventing ByteDance from blackballing the app, extending a deadline for ByteDance to sell TikTok’s US operations. an additional 75 days.
The executive order directs the U.S. Attorney General to refrain from enforcing the law, which bans the app and requires companies like Apple and Google to remove it from their app stores. TikTok did not immediately respond to a request for comment.
Days before the Jan. 19 deadline, Trump suggested he would “keep” the program once he officially takes office. In an interview with Kristen Welker on NBC News SaturdayTrump has said he will give ByteDance more time to find a buyer, but has not said how he plans to do so. “We have to look at it carefully. This is a very big situation,” he said.
In the Sunday Truth Social postTrump confirmed that the extension would come through an executive order allowing his administration to negotiate a deal with ByteDance. Trump said in his post that he would sign a 50 percent joint venture agreement with ByteDance, preferably with a US organization.
“By doing this, we are saving TikTok, keeping it in good hands and allowing it to survive,” Trump wrote. “There is no TikTok without US permission. With our approval, it is worth hundreds of billions of dollars, maybe trillions.
ByteDance and TikTok have yet to publicly respond to Trump’s offer. At Monday’s signing ceremony, Trump said he thought TikTok CEO Shou Zi Chew would “really like it.” Trump said that private companies can participate in financing the negotiations. “I think there are a lot of people who would be interested in TikTok as a partner with the United States,” he said.
The executive order itself doesn’t talk about foreclosure, but instead says the 75-day grace period is for “an opportunity to determine an appropriate course in an orderly manner.”
The rush to keep TikTok online came after the company suffered a devastating blow US Supreme Court. On Friday, a court upheld a law forcing the sale of TikTok to an American owner to prevent a nationwide ban. The decision was made just two days before the law came into force.
Shortly before midnight on Saturday, TikTok users received a warning that the app was no longer available to US users as a result of the sell-or-ban law. Around the same time, Apple and Google removed the apps from their app stores, while other ByteDance-owned apps, including CapCut, Lemon8, and Marvel Snap, were also pulled. TikTok was around 15 hours before the company issued a statement announcing its return.
“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 that our service providers, who provide TikTok to more than 170 million Americans and enable more than 7 million small businesses to thrive, will not face any penalties,” the company said. on sunday in the evening.
The divestment law has been met with outrage from both sides of the aisle. “He’s holding meetings in Washington to get this TikTok ban lifted,” Soulja Boy said. write in X over the weekend. The rap artist was in town to perform at a crypto industry launch event.
Various American financiers considering purchasing the programincluding former Los Angeles Dodgers owner Frank McCourt and former Trump Treasury Secretary Steven Mnuchin. McCourt’s Project Liberty made an official offer After the Supreme Court announced its decision. Elon Musk’s name has also been mentioned in negotiations on an agreement with the Chinese government. According to Bloomberg.
On Monday, Trump suggested that the Chinese government may impose retaliatory tariffs against China if the US government refuses to negotiate with TikTok to address national security concerns. “I’m not saying, but you sure could do it,” he said.
