UPDATE: “I Would Like the United States to Have a 50% Ownership Position” – President Trump Releases Statement on Plans to Reinstate TikTok in the United States – UPDATE: TikTok Thanks President Trump and Plans to Reinstate US Access

UPDATE: TikTok has announced it is restoring its services, thanking President Trump for “providing the necessary clarity and assurance to our service providers that they will face no penalties providing TikTok to over 170 million Americans and allowing over 7 million small businesses to thrive.”

TikTok said on X,

In agreement with our service providers, TikTok is in the process of restoring service. We thank President Trump for providing the necessary clarity and assurance to our service providers that they will face no penalties providing TikTok to over 170 million Americans and allowing over 7 million small businesses to thrive.

It’s 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.

Original story below:

Earlier this morning, President Trump announced his plans to revitalize the social media platform TikTok by having the United States take half ownership in a joint venture and issuing an Executive Order. 

This comes after the app was temporarily banned last night for United States users at around 10:30 pm EST, following an order by the United States Supreme Court requiring China-owned ByteDance to divest from TikTok.

The Gateway Pundit reported on this development late Saturday night.

BREAKING: TikTok Officially Banned in the United States – President Trump Expected to Reinstate App

President Trump announced on Truth Social Sunday morning,

I'm asking companies not to let TikTok stay dark! I will issue an executive order on Monday to extend the period of time before the law's prohibitions take effect, so that we can make a deal to protect our national security. The order will also confirm that there will be no liability for any company that helped keep TikTok from going dark before my order.

Americans deserve to see our exciting Inauguration on Monday, as well as other events and conservation.

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. Without U.S. approval, there is no Tik Tok. With our approval, it is worth hundreds of billions of dollars - maybe trillions.

Some Trump supporters have criticized the controversial social media app, while others have embraced it.

There are also rumors that a U.S. company may buy the platform.

Recall that President Trump was not a fan of TikTok and tried to disable the app while he was in office in 2020 due to concerns with the app's Chinese spyware abilities, but was blocked. Joe Biden then revoked a Trump-era executive order aimed at banning TikTok and issued an order threatening to ban TikTok in the United States if the Chinese owners don’t agree to sell their share of the app. To no surprise, the app was found to pose "security risks" in Congress, leading to the FBI Director Christopher Wray "warned members of Congress after the midterm elections that the Chinese government could use TikTok to control users’ devices for influence or espionage purposes.”

Now, Trump is doing whatever he can in his power to keep the app available for its users and also ensure that TikTok is not just a Chinese-invested app but a partly owned American app to protect our national security and ensure the success of the platform. 

With the United States as part of the joint venture, American data will be protected. However, this is only if the Chinese owners agree to part ways with 50% or less of their ownership.

This is a developing story. Trump has previously said he may make an announcement on Monday after he is sworn in as President.

The post UPDATE: “I Would Like the United States to Have a 50% Ownership Position” – President Trump Releases Statement on Plans to Reinstate TikTok in the United States – UPDATE: TikTok Thanks President Trump and Plans to Reinstate US Access appeared first on The Gateway Pundit.