President-elect Donald Trump has pledged to suspend a ban on the app.

China has provided the strongest indication yet that it’s willing to secure a deal that will keep TikTok up and running in the US. The country previously claimed it would block any forced sale of the app but said something different after President-elect Donald Trump indicated he’d be open to 50-50 joint ownership of TikTok between US and Chinese interests.

“When it comes to actions such as the operation and acquisition of businesses, we believe they should be independently decided by companies in accordance with market principles,” Chinese Foreign Ministry spokesperson Mao Ning said at a press conference. “If it involves Chinese companies, China’s laws and regulations should be observed.”

Mao noted that TikTok “has played a positive role in boosting US employment and consumption” and expressed the ministry’s hope that “the US will earnestly listen to the voice of reason and provide an open, fair, just and non-discriminatory business environment for market entities from all countries.”

On Sunday, a law came into effect that banned TikTok in the US. The video-sharing app went offline late Saturday. Users were unable to download it from app stores and even overseas folks with a US-based TikTok account couldn't access it.

Service was restored hours later after Trump pledged to sign an executive order on Monday, following his inauguration, “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.”

According to The Wall Street Journal, TikTok and ByteDance founder Zhang Yiming has a key contact that could pave the way for at least partial US ownership of TikTok in Elon Musk. He reportedly spoke with the Trump confidant in late 2024 after it looked more likely that the law would take effect. Zhang is said to have majority control over TikTok’s parent company through voting rights but he does not currently hold an executive position at ByteDance.

Source:
courtesy of ENGADGET

by Kris Holt

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