📱 TikTok Back Online
TikTok restored its services to over 170M users in the US on Monday. The app was banned due to national security concerns over ByteDance’s Chinese ownership. President-elect Donald Trump declared at a rally, “We have to save it.” TikTok confirmed its return hours later, citing Trump’s assurances to service providers.
💼 A Joint Ownership Deal?
Trump proposed a joint venture for TikTok with US firms, ensuring national security. Tesla’s Elon Musk and Oracle’s Larry Ellison are potential buyers. Analysts value TikTok's US business at $50B. Trump suggested the US could own 50% of the venture. ByteDance has yet to respond, but reports hint at China’s openness to a deal involving Musk.
🎯 A Strategic Shift
Trump’s stance on TikTok has shifted since 2020 when he attempted to ban it over data security. Now, he credits the platform for aiding his 2024 campaign, appealing to young voters. TikTok, in turn, thanked Trump for his efforts to restore operations. Trump highlighted its role in helping 7M US small businesses thrive.
🌍 China-US Tensions
TikTok’s restoration occurs amidst tense US-China relations. Trump hinted at tariffs but aims for direct ties with China’s leadership. China’s foreign ministry urged fair treatment of firms like TikTok, which it says is deeply loved by US users. The next steps could reshape the global tech and social media landscape.
Is TikTok’s revival under Trump a smart move or risky strategy?
