"President-elect Donald Trump announced on Truth Social that he will issue an executive order on Monday to extend the divest-or-ban deadline and allow enough time for a deal in which the US will have 50% ownership via a joint venture with TikTok's Chinese-owned parent company ByteDance.
Americans deserve to see our exciting Inauguration on Monday, as well as other events and conversations.
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 US approval, there is no Tik Tok. With our approval, it is worth hundreds of billions of dollars - maybe trillions.
Therefore, my initial thought is a joint venture between the current owners and/or new owners whereby the US gets a 50% ownership in a joint venture set up between the US and whichever purchase we so choose."
Chinese video-sharing platform TikTok suspended all US services early Sunday morning, while Apple and Google removed the app from their app stores to avoid hefty penalties under a new law. This follows the expiration of the divest-or-ban deadline for TikTok at midnight, just one day after the Supreme Court upheld the mandate.
"A law banning TikTok has been enacted in the US Unfortunately, that means you can't use TikTok for now. We are fortunate that President Trump has indicated that he will work with us on a solution to reinstate TikTok once he takes office. Please stay tuned!" TikTok's US website landing page reads.
Chinese video-sharing platform TikTok suspended all US services early Sunday morning, while Apple and Google removed the app from their app stores to avoid hefty penalties under a new law. This follows the expiration of the divest-or-ban deadline for TikTok at midnight, just one day after the Supreme Court upheld the mandate."
ZeroHedge
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