Washington Just hours before the well-known social media site was about to go offline in the US, President Donald Trump issued an executive order on Sunday to stop TikTok from shutting down. As part of a larger strategy to negotiate a joint venture, the U.S. government may acquire a 50% ownership position in the app.
According to Trump, the executive order will be released on Monday and would postpone the implementation of the prohibitions that were supposed to be implemented under previous federal regulations. Trump stated that the interim extension would give time to negotiate a deal that would safeguard our national security and urged businesses to stop TikTok from remaining dark.
TikTok said that service restoration is already in progress and confirmed the reversal. In a Twitter message, the corporation stated, “We appreciate President Trump giving our service providers the clarity they need and reaffirming that they won’t be penalized.” Additionally, TikTok stressed that it is prepared to collaborate with the government on a long-term solution that maintains TikTok’s presence in the US.
The president presented the choice as a calculated strategic move as well as an economic opportunity. According to Trump, [TikTok] is worth hundreds of billions of dollars, possibly trillions, with our consent. He also outlined his concept for a joint venture between present and possible new owners that would include a sizable U.S. ownership position.
With more than 170 million subscribers in the US, TikTok has come under fire for its ownership connections to China and data practices. For the millions of small businesses who depend on the site for marketing and outreach, its continuous operation in the United States is deemed essential.
In a remarkable reversal for an app that is essential to American social media culture, Trump’s decision guarantees TikTok will be up for at least a short time while discussions continue.
