President Donald Trump on Monday issued an executive order directing the Department of Justice not to enforce a law requiring the social media app TikTok to divest from its China-based parent company or face a ban in the U.S.
Trump’s order gives TikTok and companies that platform the app a 75-day reprieve from penalties while his administration attempts to reach a deal that would avoid a shutdown of the popular app.
“I intend to consult with my advisors, including the heads of relevant departments and agencies on the national security concerns posed by TikTok, and to pursue a resolution that protects national security while saving a platform used by 170 million Americans,” Trump said in the order.
“During this period, the Department of Justice shall take no action to enforce the Act or impose any penalties against any entity for any noncompliance with the Act,” he added of a law the Supreme Court upheld unanimously on Friday.
TikTok went offline briefly on Saturday but continued operating after Trump promised to sign an executive order delaying the ban passed by Congress last year. ByteDance, the company’s China-based owner, has shown no interest in selling despite the Jan. 19 deadline that came and went over the weekend.
Speaking from the White House on Monday, Trump said his order on TikTok “gives me the right to sell it or close it.” He then floated the possibility of instituting tariffs on China of up to 100% if it doesn’t agree to sell TikTok, and he re-upped his proposal for the U.S. government to take a 50% ownership stake in the company to keep it alive.
“They would have a great partner, the U.S. The U.S. would essentially be paid for doing that, half of the value of TikTok,” Trump said of the company. “It could be worth a lot.”