President-elect Donald Trump has proposed that the US government acquire a 50% stake in TikTok, citing national security concerns. This move comes after a US law required TikTok’s Chinese parent company, ByteDance, to divest its controlling stake in the app within six months or face a ban in the US.
Here are the key points:
- Trump’s Proposal: Trump suggested a joint venture between the US government and TikTok’s current owners, with the US holding a 50% stake.
- National Security Concerns: The US government has expressed concerns over TikTok’s data collection practices and alleged ties to the Chinese government.
- Temporary Service Disruption: TikTok experienced a 12-hour service disruption on Sunday due to the impending ban, but service was restored after Trump assured providers they wouldn’t face penalties.
- Executive Order: Trump plans to issue an executive order extending the timeline for the law’s prohibitions to take effect, allowing time for a deal to be made.
- TikTok’s Response: TikTok thanked Trump for providing clarity and assurance, stating they’ll work with him on a long-term solution to keep TikTok in the US.
Source: Nairametrics
