Trump Vows to Restore TikTok Access in the U.S. with New Ownership Terms
Thank you for reading this post, don't forget to subscribe!President-elect Donald Trump announced plans to revive TikTok access in the U.S. through an executive order following his inauguration on Monday. His proposal includes requiring the popular social media app to be at least 50% owned by U.S. investors to address national security concerns.
TikTok halted service late Saturday for its 170 million U.S. users after a law mandating its shutdown took effect on Sunday. The law, passed last year and upheld by the Supreme Court, called for TikTok to sever ties with its Chinese parent company, ByteDance, or cease operations in the U.S.
Trump indicated he would extend the ban’s implementation to allow for negotiations, stating, “We save TikTok, keep it in good hands, and allow it to stay up.” His executive order would also shield companies aiding TikTok’s interim operations from liability.
The shutdown marks the first time the U.S. has banned a major social media platform, sparking uncertainty among users, marketers, and businesses reliant on the app. Competitors like Meta and Snap have seen their stock prices rise amid speculation about a surge in users and advertising revenue.
Meanwhile, alternatives like RedNote have gained traction, with users dubbing themselves “TikTok refugees.” Others have turned to VPNs in an effort to bypass restrictions, with NordVPN reporting a surge in demand.
TikTok CEO Shou Zi Chew is set to attend Trump’s inauguration and has expressed optimism about the platform’s return, emphasizing its economic and cultural importance.
Amid speculation about TikTok’s future ownership, potential buyers have emerged. Frank McCourt, former owner of the Los Angeles Dodgers, and search engine startup Perplexity AI are among the suitors. Reports have also linked billionaire Elon Musk to discussions about acquiring TikTok’s U.S. operations, though ByteDance has denied these claims.
With ByteDance valued at up to $50 billion, its U.S. employees and stakeholders await Trump’s final decision, which could reshape the social media landscape and U.S.-China relations.
