Donald Trump, US President-elect has made a surprise proposal for the US to acquire a 50% ownership stake in TikTok, just hours after the popular app was banned in the country.
Donald Trump’s suggestion, made on his Truth Social platform, comes after the US Supreme Court rejected an appeal by TikTok’s owners against the ban, citing national security concerns.
The proposed joint venture would allow the US to protect its national security interests while keeping TikTok operational in the country.
US President-elect Donald Trump believes that with US approval, TikTok’s value could skyrocket to hundreds of billions or even trillions of dollars.
However, it’s unclear how this proposal aligns with Trump’s signature policy of reducing wasteful government spending.
TikTok has welcomed Donald Trump’s intervention, thanking him for providing clarity and assurance to its service providers.
The app has begun restoring its services in the US, and its owners are open to working with Trump on a long-term solution.
The development has sparked mixed reactions, with some critics questioning the implications of the US government acquiring a stake in a foreign-owned company.
Others, like Elon Musk, have expressed concerns about the imbalance in US-China relations, particularly with regards to technology and social media.
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