FOX Business' Taylor Riggs joins “Fox & Friends First” to discuss President-elect Trump's relationship with big tech, potential investment plans and the 100-day agenda.
US President-elect Donald Trump has been a face on the Chinese-owned social media app TikTok for years, and he was finally credited with saving the app on Sunday.
Trump's first administration It initially proposed banning the program or forcing its sale to a non-Chinese owner, but that plan never came to fruition until President Biden took office in 2020. A bipartisan group of lawmakers passed the law at the time, and Biden signed it into law, setting the ban in place. – Or the sales deadline until January 19.
Until this point, Trump and other politicians agreed that TikTok posed a major national security threat because it was owned by ByteDance, a company affiliated with the Chinese Communist Party.
The app went dark for a short time On Sunday, with no purchase agreement in place, only Trump stepped in and promised to push back the deadline.
President-elect Donald Trump has called for pushing back the deadline for banning or selling TikTok, originally set for January 19. (Jaap Arriens/NurPhoto via Getty Images/Getty Images)
As a result, TikTok's 170 million American users received a message thanking Trump for his efforts to save the app.
“You're welcome!” The TikTok message was read. “Thank you for your patience and support. Thanks to President Trump's efforts, TikTok is back in the US!”
Earlier on Sunday, Trump wrote on TRUTH Social that he wants companies not to let TikTok stay dark! He pledged to extend the sales ban with an executive order on Monday, though he did not provide details on the extension.
President Biden had allowed legislation to ban or sell TikTok to go forward under his administration. (Reuters)
“By doing this, we're going to save TikTok, keep it in good hands and let it (stay). Without US approval, TikTok doesn't exist. With our approval, hundreds of billions of dollars — maybe It's worth trillions.” wrote “Therefore, my initial thought is a joint venture between the current owners and/or new owners whereby the United States would receive 50% ownership in a joint venture between the United States and any acquisition we choose. “
Trump's new endorsement of TikTok comes after the company's CEO, Shou Chew, met the president-elect at his Mar-a-Lago home in December.
TikTok screams Trump as app goes dark for millions of users across America
TikTok later released another statement from its X account, again thanking the future president.
TikTok welcomed a return of users to the social media platform after President-elect Trump promised to implement an executive order delaying the ban. (Photo by Reuters/Reuters)
“We thank President Trump for providing transparency and assurance to our service providers that they will face no penalties for providing TikTok to more than 170 million Americans and allowing more than 7 million small businesses to grow,” the statement read. Thank you “This is a strong stand for the First Amendment and against arbitrary censorship. We will work with President Trump on a long-term solution that keeps TikTok in the United States.”
Click here to get the FOX NEWS program
Despite the extension, ByteDance has He repeatedly turned down offers to sell the program. The company hasn't weighed in on whether it supports shared ownership like the one Trump described.
Fox Business's Daniel Wallace contributed to this report.