President-elect Donald Trump announced on Sunday his intention to issue an executive order to delay a TikTok ban.
According to details, he emphasised a potential deal that would grant the United States partial ownership of the app.
His remarks followed the app’s blackout in the United States under legislation targeting its Chinese ownership due to national security concerns.
The controversial law, which came into effect on Sunday, mandated TikTok’s removal from app stores and blocked new downloads.
However, it included a provision for a 90-day delay if progress towards a sale was demonstrated.
ByteDance, the app's Chinese parent company, had so far resisted selling its US operations.
“I will issue an executive order on Monday to extend the period of time before the law's prohibitions take effect, so that we can make a deal to protect our national security,” Trump stated on his Truth Social platform.
He proposed a joint venture where the United States would hold a 50% stake, predicting the app's valuation could soar to “hundreds of billions of dollars – maybe trillions.”
TikTok, which became a cultural phenomenon with its short videos ranging from dance routines to culinary tips, faced scrutiny over disinformation and its Chinese ownership. Despite previously advocating for a ban, Trump credited the platform with aiding his connection to younger voters.
“By doing this, we save TikTok, keep it in good hands,” Trump added, referring to the proposed ownership model.
Outgoing President Joe Biden's administration stated it would defer the matter to Trump, who was set to assume office on Monday.
Biden’s team confirmed it would not enforce the ban under the current circumstances.
TikTok informed its users of Trump's plans in a message on Sunday, expressing optimism for a resolution. “We are fortunate that President Trump has indicated that he will work with us on a solution to reinstate TikTok once he takes office. Please stay tuned!” the platform conveyed.
Meanwhile, reactions to the blackout were widespread. Tennis star Coco Gauff lamented the development at the Australian Open, writing “RIP TikTok USA” on a courtside camera.
“I love TikTok; it’s like an escape… hopefully it comes back,” she told reporters.
In a separate development, the start-up Perplexity AI reportedly submitted a proposal to merge with TikTok’s US subsidiary.
The deal, estimated at $50 billion, was accompanied by an offer from Frank McCourt, former owner of the Los Angeles Dodgers, to acquire TikTok’s US operations.
In Europe, Estonia’s Foreign Minister Margus Tsahkna advocated a similar ban, citing concerns over disinformation.
"Banning TikTok must be considered in Europe as well," Tsahkna remarked on social media.
The legislative restrictions also placed obligations on companies such as Apple, Google, and Oracle to enforce the ban. Industry experts, however, cautioned that congressional constraints might limit Trump’s ability to lift the ban without ByteDance agreeing to a sale.
