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

*

TikTok awaits Trump executive order to grant time for deal

*

China signals open to deal to keep TikTok operating in US

*

Not all in Republican Party support 'Save TikTok' efforts

(Adds Trump signing TikTok executive action)

By Kenneth Li and Katie Paul

Jan 20 (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 ( AAPL ) 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 ( AAPL ), 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 >
Transportation authority approves New York's congestion pricing plan
Transportation authority approves New York's congestion pricing plan
Mar 27, 2024
NEW YORK, March 27 (Reuters) - The Metropolitan Transportation Authority (MTA) board voted on Wednesday to approve the toll rates for Manhattan's congestion pricing program, the first of its kind in the United States. Under the plan, New York City will charge a daily toll of $15 during the day for passenger vehicles driving in Manhattan south of 60th Street...
Stellantis' Job Cuts in Italy Rises to 3,597, Potentially Leads to Union Strike
Stellantis' Job Cuts in Italy Rises to 3,597, Potentially Leads to Union Strike
Mar 27, 2024
01:18 PM EDT, 03/27/2024 (MT Newswires) -- Stellantis' ( STLA ) job cuts at its Italian plants have increased to 3,597, the union representing the automaker's workers in Italy said Wednesday. The Italian Federation of Metalworkers, better known as FIOM, said the matter has become more serious than before and led to a united strike on April 12 in Turin....
S&P Global Ratings Downgrades Paramount Rating to BB+, Outlook Stable
S&P Global Ratings Downgrades Paramount Rating to BB+, Outlook Stable
Mar 27, 2024
01:19 PM EDT, 03/27/2024 (MT Newswires) -- S&P Global Ratings said Wednesday it has downgraded Paramount Global's ( PARAA ) rating to BB+ from BBB- due to the degradation of credit metrics from the hastening declines in linear media and the shift toward a less certain and more competitive streaming model. The outlook is stable, the rating agency said. Price:...
New Stellantis layoffs mean over 3,000 jobs set to go in Italy
New Stellantis layoffs mean over 3,000 jobs set to go in Italy
Mar 27, 2024
MILAN, March 27 (Reuters) - Stellantis ( STLA ), the maker of Fiat cars, on Wednesday signed further deals with unions in Italy for voluntary lay-offs, meaning the automaker could cut its workforce by a total of over 3,000 roles in the country. New deals were reached on Wednesday for over 1,000 lay-offs at facilities in Italy, including Melfi, Pomigliano...
Copyright 2023-2026 - www.financetom.com All Rights Reserved