Trump to Delay TikTok Ban, Proposes 50% U.S. Ownership in Joint Venture with ByteDance

Jan 19, 2025, 04:51 PM

President-elect Donald Trump has announced plans to issue an executive order on Monday to delay the implementation of a ban on TikTok in the U.S. This decision comes in response to a federal law that required ByteDance, TikTok's China-based parent company, to divest its U.S. operations by Sunday or face a permanent ban. The law, upheld by the U.S. Supreme Court, was enacted due to national security concerns related to TikTok's Chinese ownership. Trump's order aims to extend the period before the law's prohibitions take effect, allowing more time for ByteDance to find an approved buyer. He also mentioned that the U.S. could take a 50% ownership position in a joint venture with ByteDance to 'save TikTok' and keep it operational in the U.S.