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TAKEAWAYS KEY
- TikTok said Sunday it's in the process of restoring service after President-elect Donald Trump said he would issue an executive order on Monday to delay the Chinese-owned app's ban in the U.S.
- Trump said that he also wants to own 50% of the Chinese controlled app.
- The app went "dark" Sunday after the Supreme Court on Friday upheld a law requiring its parent ByteDance sell the platform or face a ban in the country.
TikTok said Sunday it was in the process of restoring access to its app after President-elect Donald Trump said he would issue an executive order on Monday to delay banning the Chinese-owned social media app.
Trump’s inauguration will take place at noon ET, on Monday. He also stated in a posting on the social media platform Truth Social, that he wanted to see TikTok owned by the United States.
"In agreement with our service providers, TikTok is in the process of restoring service," TikTok said in a post on X. "We thank President Trump for providing the necessary clarity and assurance to our service providers that they will face no penalties providing TikTok to over 170 million Americans and allowing over 7 million small businesses to thrive."
This app is no longer available “dark” The Supreme Court ruled on Friday that ByteDance must sell its platform to avoid a U.S. embargo. The law, passed in April by Congress and signed into effect by Joe Biden, required TikTok’s Chinese owner to sell the site. Jan. 19 If you are not permitted to work in the U.S. due to national security concerns, this is a serious matter.
"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," Trump said in a post on his social media platform, Truth Social. "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 wants to own 50% of TikTok
"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 added, noting such a move would "save TikTok."
Although Chinese officials would prefer to keep TikTok under ByteDance control, they’ve also considered other options such as allowing TikTok to be owned by a third party. “trusted non-Chinese party” According to reports, Elon Musk bought TikTok U.S. operations last week.
The app is no longer on Alphabet (GOOGL), Apple (AAPL) and Google Play Stores in the U.S. as of early Sunday morning.
"Pursuant to the Protecting Americans from Foreign Adversary Controlled Applications Act, apps developed by ByteDance Ltd. and its subsidiaries — including TikTok, CapCut, Lemon8, and others — will no longer be available for download or updates on the App Store for users in the United States starting January 19, 2025," Apple said in a statement on its website.
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