Executive Order For TikTok Is Complicated

President Trump is signing an executive order aimed at tackling the TikTok ban, but there may be a big hiccup. Right after getting back to the Oval Office, Trump signed the order that he says will allow him to "either sell it or close it" and it has a 75 day extension deadline. He said the app will be worthless if he doesn't approve a potential deal to sell, but it may be worth a trillion dollars if he does. Trump went on to add he feels the U.S. should get 50-percent of TikTok. Trump threatened China with a tariff if the deal isn’t done. Currently, 60-percent of TikTok is owned by companies Blackrock, Susquehanna International Group, and others. Three of the five board members of Bytedance are Americans. The founders of TikTok own 20-percent of the company and employees own the last 20. China does not own the app or company.


Sponsored Content

Sponsored Content