President-elect Donald Trump announced that he plans to restore TikTok access in the U.S. through an executive order once he is inaugurated on Monday. He emphasized that he wants the app to be at least partially owned by American investors, proposing a joint venture where the U.S. holds a 50% stake.
“I want the United States to have a 50% ownership position in a joint venture. This way, we save TikTok, keep it in good hands, and ensure it remains operational,” Trump wrote on Truth Social. He also mentioned that he would extend the timeline before any legal prohibitions against TikTok take effect, allowing for a deal that would safeguard national security. “Americans deserve to witness our exciting Inauguration on Monday, along with other events and discussions,” he added.
Trump continued, “Without U.S. approval, TikTok cannot operate. With our approval, it could be worth hundreds of billions—possibly even trillions.” Although it was unclear whether Trump was referring to U.S. government ownership or an American company holding the stake, he clarified that the executive order would protect companies from liability if they helped prevent TikTok from being shut down before his order takes effect.
In response to Trump’s announcement, TikTok confirmed that it is working on restoring its services in the U.S. and intends to collaborate with the incoming administration on a long-term solution that would allow the Chinese-owned app to remain operational in the country.
Earlier, Trump had indicated that he would likely grant TikTok a 90-day reprieve from the ban after taking office, a commitment that TikTok referenced in a notice to its users on the app. The law allows the sitting president to grant a 90-day extension if a legitimate sale is in progress. While some investors have made offers, ByteDance, the parent company, had previously stated that it would not sell the app.
On Saturday night, TikTok ceased functioning for its 170 million American users ahead of a law set to take effect on Sunday, which would shut the app down on national security grounds. U.S. officials had raised concerns that TikTok’s Chinese parent company, ByteDance, could misuse American users’ data.
In a message to users, TikTok explained, “A law banning TikTok has been enacted in the U.S. Unfortunately, that means you can’t use TikTok for now. We are fortunate that President Trump has indicated he will work with us on a solution to reinstate TikTok once he takes office. Please stay tuned.” The app was also removed from Apple and Google’s app stores on Saturday.
Both Apple and Google complied with a federal law that mandated they remove TikTok from their stores if ByteDance did not sell its U.S. operations by Sunday.
Meanwhile, TikTok CEO Shou Zi Chew is expected to attend the U.S. presidential inauguration and a rally with Trump on Sunday, according to a source who spoke with Reuters.
