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The immensely popular short-form video platform claims to have over 170 million users in the U.S., which is nearly half of the population of the world’s leading economy.
Concerns about national security have prompted Washington to seek to take control of TikTok’s U.S. operations away from its Chinese parent company, ByteDance.
During a signing ceremony at the White House on Thursday, Trump stated that the U.S. version of the app would be managed by “highly sophisticated” investors, all of whom are his allies, while asserting that any political agenda would not influence the app.
The group of investors would include Larry Ellison, the founder of cloud powerhouse Oracle, tech investor Michael Dell, and media mogul Rupert Murdoch.
“The proposed divestiture would allow the millions of Americans who enjoy TikTok every day to continue using it while also protecting national security,” Trump stated in the order.
“If I could make it 100 per cent MAGA, I would, but it’s not going to work out that way, unfortunately. No… every group, every philosophy, every policy will be treated very fairly,” Trump told reporters.
The president confirmed that the U.S. version of TikTok would incorporate a domestically developed model of the app’s valuable algorithm.
Frequently referred to as TikTok’s “secret sauce”, this algorithm has propelled the app to become one of the most popular social media platforms worldwide in a short span of years.
A White House official remarked on Monday that the algorithm would be “continuously monitored” to ensure it is “not being unduly influenced.”
The new TikTok arrangement responds to legislation passed under Trump’s successor, Joe Biden, which has compelled ByteDance to divest its U.S. operations or face a ban in its largest market.
U.S. policymakers, including Trump during his first term, have cautioned that China could exploit TikTok to collect data from Americans or exert influence through its algorithm.
