During a rally-style speech, Trump said 'we need to save TikTok,'. However, he warned Chinese company ByteDance that without his executive order, TikTok risked being shut down.
TikTok was removed from Apple & Google’s app stores Saturday ahead of a federal ban in US targeting the platform. Trump says he'll restore app's access upon returning to power today.
President-elect Donald Trump in a message on Truth Social vowed to save the app after his inauguration Monday, and also insisted on a 50% US ownership of the Chinese social media platform.
Chinese govt has considered plan involving acquisition of TikTok’s US operations by Elon Musk; ban on TikTok is expected to make massive dent in revenue of parent company ByteDance.
The social media platform is facing the ban after the Supreme Court decided it would be a threat to national security if its Chinese parent company ByteDance does not sell.
TikTok says its U.S. site generates billions for businesses selling candies, beauty products, clothes and other consumer goods. But now, that economy is under threat.
The lawmakers argue that it is impossible to complete a sale by next week's deadline, warning the ban would take away the economic and cultural livelihood of 170 million Americans.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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