President-elect Donald Trump has announced plans to issue an executive order on Monday that will delay the impending ban on TikTok in the United States. He urged tech companies to "not let TikTok stay dark" and emphasized that the order would extend the timeline before legal prohibitions take effect, allowing for negotiations to protect national security. In his post on Truth Social, Trump assured that companies assisting in keeping TikTok operational would not face legal repercussions prior to his order.
Trump expressed that Americans should be able to enjoy his inauguration and other related events. He proposed a joint venture where the U.S. would hold a 50% stake in TikTok, arguing that this arrangement would preserve the app and significantly increase its value. He stated, "Without U.S. approval, there is no TikTok," suggesting that with American backing, the app could be worth hundreds of billions, if not trillions, of dollars.
This announcement follows a recent Supreme Court ruling that upheld a law mandating TikTok's parent company, ByteDance, to divest its U.S. operations due to national security concerns. The law included a provision for a 90-day extension if progress toward a viable sale could be demonstrated. Despite previous refusals from ByteDance to sell, Trump’s administration aims to facilitate a deal that would allow TikTok to continue operating in the U.S. under new ownership arrangements.