Trump's administration will ensure TikTok stays operational in the U.S., potentially delaying a shutdown

From Investing.com: 2025-01-16 12:56:15

President-elect Donald Trump’s national security adviser, Mike Waltz, stated the new administration will ensure TikTok stays operational in the U.S. A possible 90-day extension is being considered to allow for a divestiture deal. TikTok is used by over 170 million Americans monthly.

Trump may issue an executive order to keep TikTok running until new owners are found. Lawmakers are pushing for a 270-day extension to prevent harm on American users. TikTok plans to shut down U.S. operations unless there is a last-minute reprieve.

President Joe Biden has no plans to intervene to block TikTok’s ban if the U.S. Supreme Court does not act. A law signed in April mandates a ban on new TikTok downloads if ByteDance fails to divest the site. The law also prohibits U.S. companies from providing services to TikTok.

The president can delay the ban for 90 days if there is significant progress towards divestiture agreements. TikTok CEO Shou Zi Chew plans to attend the inauguration on Jan. 20. Representative Frank Pallone criticized Trump for inviting Chew, highlighting national security concerns.

The U.S. Supreme Court is deciding on whether to uphold the law banning TikTok, overturn it, or pause it for further deliberation. ByteDance is primarily owned by institutional investors, with more than 7,000 employees in the U.S.



Read more at Investing.com: Trump will keep TikTok from ‘going dark’ if deal is on table, adviser says By Reuters