President Trump delays TikTok Ban

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President Donald Trump issued an executive order directing the Attorney General to delay a TikTok ban by seventy-five days, giving the social media company additional time to find an American buyer.

Trump signed the order on his first day in office, just as he had promised. The president gave the Attorney General a 75-day directive to do nothing against TikTok regarding a ban authorized by Congress, that began on Monday.

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After the time limit has passed, he added, the Department of Justice will not take any further action to enforce the ban. Trump issued the order after promising to lift a TikTok ban that was about to take effect on Sunday.

TikTok restored services following Trump’s remarks, expressing gratitude to the President, even though it had shut down services in some areas of the nation. According to recent reports, Elon Musk may be a candidate to buy the social media company.

The U.S. government demanded that the social media platform, owned by China’s ByteDance, either sell to a U.S. business or allow the ban on TikTok on national security grounds.  A TikTok ban is good news for American-based social media platforms like YouTube, Snap, and Meta, which were anticipated to gain from users abandoning TikTok.

 

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ABOUT THE AUTHOR See More
Olumide Adesina
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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