Trump Proposes Joint Venture to Save TikTok as Ban Looms

Developments Surrounding TikTok Ban Amidst Trump’s Presidency Revival

As President-elect Donald Trump prepares for his inauguration, he has made headlines by urging major tech companies like Apple and Google to reinstate TikTok in the U.S. market. This comes amidst ongoing debates regarding the app’s ownership and its implications for national security.

Trump's Proposal: A Joint Venture to Save TikTok

Trump proposed creating a joint venture where the United States would maintain a 50% ownership stake in TikTok. In a post on Truth Social, he stated, "I’m asking companies not to let TikTok stay dark!" He hinted at issuing an executive order aimed at delaying the law's provisions prohibiting the app's operation in the U.S., allowing for negotiations that would protect national interests.

Inauguration Motivations and Economic Implications

The urgency behind Trump’s call appears to be linked to his upcoming inauguration, emphasizing that "Americans deserve to see" the app back online. Trump believes that with U.S. approval, TikTok’s valuation could skyrocket into the hundreds of billions—possibly trillions—of dollars.

Resistance from Republican Lawmakers

Despite Trump’s intentions, a faction of Republican lawmakers have expressed skepticism about the feasibility of halting the TikTok ban without a legitimate sale. House Speaker Mike Johnson insists on enforcing the existing laws regarding the app’s ownership, emphasizing that any extension of the ban’s enforcement would require a real divestiture deal to make it compliant with legal standards.

Legal Challenges and Safety Concerns

Prominent Senators, including Tom Cotton and Pete Ricketts, have reinforced that the ban is effective and any extension lacks legal foundation. For TikTok to resume operations in the U.S., ByteDance must comply with regulations related to severing ties with Communist China.

Conclusion: The Future of TikTok On the Horizon?

As the story continues to develop, the intersection of national security and technological ownership remains a pivotal topic amidst Trump’s presidency revival. Stakeholders will be watching closely to see how this impacts not only TikTok but the broader technology ecosystem in the U.S.