"Make Deal To Protect National Security": Trump Prepares Executive Order To Save TikTok
Update (1035ET):
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.
Trump's statement was posted on Truth Social on Sunday morning:
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. The order will also confirm that there will be no liability for any company that helped keep TikTok from going dark before my order.
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.
https://www.zerohedge.com/technology/goes-dark-sorry-tiktok-isnt-available-right-now