President Donald Trump has indicated a possible deal in the works to prevent the looming ban on TikTok. The reported agreement involves partnering with software company Oracle and a group of investors to assume control of the app's operations. Under this proposed deal, ByteDance, TikTok's Chinese parent company, would retain a stake in the platform while Oracle would manage data and software updates.
Trump's national press secretary expressed confidence in Trump's deal-making abilities, emphasizing his desire to save TikTok. This development comes as several Republican state attorneys general, who have raised concerns about national security and data privacy, await the outcome.
Republican state attorneys general have been actively pursuing actions against TikTok, with some advocating for a divestment or ban law. Texas Attorney General Ken Paxton recently initiated legal action against TikTok, alleging safety standard violations and inappropriate content.
While Republicans have expressed concerns, Democratic state attorneys general have also taken legal actions against TikTok, citing exploitation of young users and deceptive practices.
Despite previous attempts to ban TikTok, Trump acknowledged the app's impact on engaging young voters during the 2024 presidential campaign. TikTok faced a temporary shutdown after ByteDance failed to sell the app to an approved buyer within the specified timeframe, leading to legal challenges.
Following the U.S. Supreme Court's decision upholding national security risks associated with TikTok's ties to China, the app was reinstated for U.S. users. Trump has promised an executive order to facilitate TikTok's sale, signaling a potential resolution to the ongoing saga.
As the situation unfolds, stakeholders eagerly await further developments to determine the fate of TikTok in the U.S.
