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KEY TAKEAWAYS
- President Donald Trump signed an govt order Monday delaying the U.S.’s ban on TikTok by 75 days, giving the Chinese language-owned social media app time to discover a U.S. purchaser.
- The grace interval follows a unstable few days for the app, which went briefly “darkish” over the weekend earlier than Trump, on the eve of his inauguration, introduced his plan for the chief order.
- The Supreme Courtroom on Friday upheld a legislation requiring ByteDance, TikTok’s Chinese language proprietor, to promote the app or face a shutdown on nationwide safety grounds Sunday.
President Donald Trump signed an govt order Monday delaying the U.S.’s ban on TikTok by 75 days, giving the Chinese language-owned social media app time to discover a U.S. purchaser.
“I’m instructing the Lawyer Basic to not take any motion to implement the Act for a interval of 75 days from in the present day to permit my Administration a possibility to find out the suitable course ahead in an orderly method that protects nationwide safety whereas avoiding an abrupt shutdown of a communications platform utilized by thousands and thousands of People,” Trump’s order stated.
The grace interval caps just a few unstable days for the app, which has 170 million U.S. customers. It briefly went “darkish” over the weekend after the Supreme Courtroom upheld a legislation Friday requiring its Chinese language mother or father ByteDance promote the app or shut it down on nationwide safety grounds. Companies had been restored hours later, nevertheless, when Trump, on the eve of his inauguration, introduced his plan for the chief order.
“I believe the U.S. must be entitled to get half of TikTok,” Trump stated whereas signing the chief order Monday.
China Reportedly Has Mulled TikTok Sale to Musk
Although Chinese language officers want that TikTok keep below ByteDance’s management, additionally they have mentioned choices together with permitting a “trusted non-Chinese language social gathering” reminiscent of Elon Musk to purchase the app’s U.S. operations, in accordance with reviews final week.
TikTok and the Chinese language embassy in Washington did not instantly reply to Investopedia requests for remark.
TikTok CEO Shou Zi Chew attended Trump’s inauguration and was seated subsequent to Tulsi Gabbard, who’s nominated to function director of nationwide intelligence, The Wall Road Journal reported.