Photo: Alamy
President Donald Trump signed an executive order on Monday to give China’s ByteDance 75 days to sell TikTok before implementing a ban on the app.
The order delays the Foreign Adversary Controlled Applications Act from being put into place following a Supreme Court ruling to do so for the company to make a deal with an American company.
“I am instructing the Attorney General not to take any action to enforce the Act for a period of 75 days from today to allow my Administration an opportunity to determine the appropriate course forward in an orderly way that protects national security while avoiding an abrupt shutdown of a communications platform used by millions of Americans,” the order read.
“During this period, the Department of Justice shall take no action to enforce the Act or impose any penalties against any entity for any noncompliance with the Act,” it added.
Trump previously wrote on Truth Social that he planned to sign the order to “save TikTok.”
“I’m asking companies not to let TikTok stay dark! I will issue an executive order on Monday to extend the period of time before the law’s prohibitions take effect, so that we can make a deal to protect our national security. The order will also confirm that there will be no liability for any company that helped keep TikTok from going dark before my order,” Trump wrote.
“Americans deserve to see our exciting Inauguration on Monday, as well as other events and conversations,” he continued.
Trump also proposed an option that would include 50 percent American ownership of the video-sharing app.
“I would like the United States to have a 50% ownership position in a joint venture. By doing this, we save TikTok, keep it in good hands and allow it to say up. Without U.S. approval, there is no Tik Tok. With our approval, it is worth hundreds of billions of dollars – maybe trillions,” he suggested.
“Therefore, my initial thought is a joint venture between the current owners and/or new owners whereby the U.S. gets a 50% ownership in a joint venture set up between the U.S. and whichever purchase we so choose,” Trump concluded.