President-elect Donald Trump plans to delay TikTok’s ban by pursuing a 50% U.S. ownership stake in a joint venture. In a Truth Social post, Trump announced he would issue an executive order after taking office to extend the app’s deadline, allowing time to finalize a deal.
TikTok ceased operations Saturday night following a U.S. law requiring its sale or ban. Users received a message thanking Trump for his efforts to reinstate the app.
Trump’s proposal includes a joint venture with U.S. control, potentially reviving the 2022 “Project Texas” plan. That initiative, rejected by the Biden administration, offered U.S. oversight of TikTok’s operations and a kill switch to address security concerns. Trump said this plan could make TikTok worth “hundreds of billions, maybe trillions.”
The law allows a 90-day extension if significant progress is made toward a sale or other resolution.
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