President-elect Donald Trump says he plans to issue an executive order that would give TikTok's China-based parent company more time to find an approved buyer before the popular video-sharing platform is subject to a permanent ban in the U.S.
President-elect Donald Trump says he plans to issue an executive order that would give TikTok's China-based parent company more time to find an approved buyer before the popular video-sharing platform is subject to a permanent ban in the U.S.
The law gives the sitting president authority to grant a 90-day extension if a viable sale is underway. Although investors made a few offers, ByteDance previously said it would not sell. In his post on Sunday, Trump proposed making the U.S. a partner in a deal. The federal law required TikTok parent company ByteDance to cut ties with the platform's U.S. operations by Sunday due to national security concerns posed by the app's Chinese roots. It passed with wide bipartisan support in April, and U.S. President Joe Biden quickly signed it. TikTok and ByteDance sued on First Amendment grounds, and the U.S. Supreme Court upheld the statute on Friday.
The only option the message gives to U.S. users is to close the app or click another option leading them to the platform's website. There, users are shown the same message and given the option to download their data, an action that TikTok previously said may take days to process. Chew posted a video late Saturday thanking Trump for his commitment to work with the company to keep the app available in the U.S. and a “strong stand for the First Amendment and against arbitrary censorship.”
Other investors have also been eyeing TikTok. “Shark Tank” star Kevin O’Leary recently said a consortium of investors that he and billionaire Frank McCourt put together offered ByteDance $20 billion in cash. Trump’s Treasury Secretary Steven Mnuchin also said last year that he was putting together an investor group to buy TikTok.
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