U.S. President-elect Donald Trump has offered to buy off a fraction of TikTok , the Chinese-owned short-form video platform.
He declared that the app must be at least 50% owned by U.S. investors to continue operating in the United States.
During a rally held in Washington on the eve of his inauguration, Trump spoke about the controversial platform, which has been at the center of U.S.-China tensions over data security concerns.
He told the crowd; “but let the United States of America own 50 per cent of TikTok,” emphasizing his administration’s commitment to protecting American interests.
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In his remarks, Trump argued that TikTok’s value was entirely dependent on U.S. approval: He said, “TikTok is worth nothing, zero without an approval” to operate within the country.
He added; “If you do approve, they’re worth like a trillion dollars, they’re worth some crazy number,” highlighting the app’s massive valuation tied to its American user base and market potential.
Trump also outlined his vision for the arrangement, indicating that the U.S. government would play an active role in the process.
“I’m approving on behalf of the United States so they’ll have a partner, the United States and they’ll have a lot of bidders and the United States will do what we call a joint venture,” he stated.
This proposal signaled the possibility of a unique public-private partnership to reshape the app’s ownership structure.
Earlier on Sunday, TikTok abruptly became inaccessible to users in the United States for approximately 12 hours. This suspension was linked to a new law that mandates the platform either be sold by its Chinese parent company, ByteDance, or face a ban on U.S. soil.
The law, introduced under the guise of safeguarding national security has sparked intense debates between the U.S. and China.
However, the app was reinstated later that day following Trump’s intervention. Speaking on the matter, the president-elect announced plans to issue an executive order allowing TikTok to remain operational in the U.S. under specific conditions.
The move, which is expected to take effect as he assumes office on Monday, has been framed as a temporary solution while negotiations around the platform’s future ownership continue.
TikTok, known for its immense popularity among young audiences, has faced intense scrutiny over allegations of data mishandling and its ties to the Chinese government.
Trump’s remarks indicate that his administration intends to pursue a hardline approach in addressing these concerns, even as he prepares to step into the presidency.
Crediblenewsng.com
