financetom
Business
financetom
/
Business
/
TikTok gets reprieve with Trump order
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
TikTok gets reprieve with Trump order
Jan 20, 2025 6:30 PM

(Reuters) -President Donald Trump signed an executive order on Monday delaying by 75 days the enforcement of a ban of popular short-video app TikTok that was slated to be shuttered on Jan. 19.

The short video service used by 170 million Americans was briefly taken offline for U.S. users on Saturday, hours before a law that said it must be sold by its Chinese owner ByteDance on national security grounds took effect on Sunday. U.S. officials had said that under ByteDance, there was a risk of Americans' data being misused.

TikTok restored access on Sunday and thanked Trump for providing assurances to TikTok and its business partners that they would not face hefty fines to keep the app running. The app and website were operational on Monday, but TikTok was still not available for download in the Apple and Google app stores, suggesting the two companies were waiting for clearer legal assurances.

Trump's order hours after he was inaugurated on Monday directs the attorney general to not enforce the law "to permit my administration an opportunity to determine the appropriate course of action with respect to TikTok."

The order directs the Justice Department to issue letters to companies like Apple, Alphabet's Google and Oracle that supply services to TikTok "stating that there has been no violation of the statute and that there is no liability for any conduct that occurred during the above-specified period."

The debate over TikTok comes at a tense moment in U.S.-China relations. Trump has said he intends to place tariffs on China but has also indicated he hopes to have more direct contact with China's leader. 

"Frankly, we have no choice. We have to save it," Trump said at a rally on Sunday ahead of his inauguration, adding that the U.S. will seek a joint venture to restore the app used by half of Americans.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Ouster Digital Lidar Gets Defense Department Approval for Unmanned Aircraft; Shares up Pre-Bell
Ouster Digital Lidar Gets Defense Department Approval for Unmanned Aircraft; Shares up Pre-Bell
Jun 11, 2025
07:37 AM EDT, 06/11/2025 (MT Newswires) -- Ouster (OUST) said Wednesday that the US Department of Defense has vetted and approved the company's OS1 digital lidar for use in unmanned aerial systems. The Defense Innovation Unit added the product to the Blue UAS Framework after a review of components and cybersecurity testing, the company said. Ouster shares were up nearly...
BMO on The Day Ahead in Canada
BMO on The Day Ahead in Canada
Jun 11, 2025
07:38 AM EDT, 06/11/2025 (MT Newswires) -- Canada will release the building permits for April at 8:30 a.m. ET on Wednesday, noted Bank of Montreal (BMO) Permits have been strong, but they aren't yet housing units breaking ground, said the bank. Some have suggested that builders have been gathering permits ahead of fee increases. Interestingly, conditions on the ground are...
Nouveau Monde Graphite Jumps 16% in U.S. Pre-market After Receiving Over US$1 Billion in Letters of Interest for Project Debt Financing
Nouveau Monde Graphite Jumps 16% in U.S. Pre-market After Receiving Over US$1 Billion in Letters of Interest for Project Debt Financing
Jun 11, 2025
07:42 AM EDT, 06/11/2025 (MT Newswires) -- Nouveau Monde Graphite ( NMG ) traded 16% higher at last look Wednesday in NYSE pre-market trading as the company received letters of interest for over US$1 billion in financing for the phase 2 Matawinie mine and the Becancour battery material plant in Canada. The company said the letters of interest include US$430...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved