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January 21, 2025 | 01:15 pm
Tempo.co, Jakarta - Donald Trump revealed his plan to acquire 50 percent of TikTok's shares through a joint venture. This announcement was made before his inauguration as President of the United States (U.S.) on Monday, January 20, 2025.
"I want the United States to hold a 50 percent ownership stake in the joint venture," Trump said on his Truth Social platform, as reported by Reuters on Tuesday, January 21, 2025.
Trump also announced that he would extend the deadline for the TikTok ban to allow more time for negotiations. "I will extend the timeline before the ban takes effect so we can reach an agreement that protects our national security," he said.
TikTok, owned by the Chinese company ByteDance, welcomed Trump’s decision to save the short-video sharing app, which has more than 170 million American users. In an official statement, TikTok expressed gratitude to Trump for the clarity and assurances provided to the app's service providers. The company also highlighted its role in supporting over seven million small businesses in the U.S.
However, not all politicians supported Trump’s decision. Republican Senators Tom Cotton and Pete Ricketts criticized the move, insisting that TikTok should only be allowed to resume operations if ByteDance fully severs its ties with the Chinese government. "For TikTok to return online in the future, ByteDance must agree to a sale that meets the divestment requirements," they emphasized.
Meanwhile, U.S.-China relations are at a tense juncture. Chinese Foreign Ministry spokesperson Mao Ning expressed hope that the U.S. would create a fair and non-discriminatory business environment for foreign companies operating within its borders.
Currently, the TikTok app, along with CapCut and Lemon8—both owned by ByteDance—remain unavailable in U.S. app stores. However, efforts to gradually restore the services began on the evening of Sunday, January 19, 2025.
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