In 2020, then-45th U.S. President Donald Trump reportedly signed an executive outlawing transactions between ByteDance and consumers in the United States. More than four years later, he is asking companies not to let ByteDance or any of its apps, including TikTok and CapCut, stay dark.
“I’m asking companies not to let TikTok stay dark,” he wrote on Truth Social.
“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.”
However, there is a caveat. When ByteDance’s apps were initially outlawed in 2020, the executive order argued ByteDance’s “data collection threatens to allow the Chinese Communist Party access to Americans’ personal and proprietary information.” More than five years later, the President-Elect demands the federal government gain 50% ownership of ByteDance’s operations in the United States to continue operating.
“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,” Trump wrote.
“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.”
Nearing the end of his Presidency, President Joe Biden indicated that he would not enforce the executive order implemented by Trump. However, ByteDance preemptively suspended service of TikTok on Saturday, January 18 before restoring it less than 24 hours lager. As he prepares to take office on Monday, January 20, Trump has said that he’d like to suspend enforcement of his executive order for at least 90 days in an attempt to work out a deal with ByteDance. Still, the future of the popular social media app and ByteDance’s other apps appears unclear heading into the Trump-Vance administration.
