Trump to revive TikTok, but wants 50% US ownership
WASHINGTON -President-elect Donald Trump said he would revive TikTok access in the U.S. by executive order after he is sworn in on Monday, but said he wants the popular social media app to be at least half owned by U.S. investors.
"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," he wrote on Truth Social. "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 that he will work with us on a solution to reinstate TikTok once he takes office. Please stay tuned," a message notified users of TikTok, which disappeared from Apple and Snap have seen their share prices rise this month ahead of the ban, as investors bet on an influx of users and advertising dollars.
Users on Instagram fretted about whether they would still receive merchandise they had bought on TikTok Shop, the video platform's e-commerce arm. TikTok CEO Shou Zi Chew plans to attend the U.S. presidential inauguration and attend a rally with Trump on Sunday, a source told Reuters.
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