28.12.2024
Mikhail Vnuchkov
Author at Traders Union
28.12.2024

Trump seeks extension for TikTok sale to avoid U.S. ban

Trump seeks extension for TikTok sale to avoid U.S. ban Trump asks Supreme Court to delay TikTok sale deadline

​Two weeks before the U.S. Supreme Court is set to hear oral arguments concerning the fate of TikTok, President-elect Donald Trump has requested that the court delay a Jan. 19 deadline for the app's forced sale.

The deadline, which mandates TikTok's divestiture from its current Chinese-based parent company, ByteDance, or face a ban in the U.S., is central to the ongoing legal battle, reports ABC News.

In an amicus brief filed by Trump’s nominee for solicitor general, John Sauer, the incoming administration seeks a temporary pause on the sale requirement. The filing argues that this delay would provide Trump with the opportunity to negotiate a resolution that addresses national security concerns while avoiding a nationwide shutdown of TikTok, which has over 170 million U.S. users.

A Negotiated Resolution

The brief casts Trump as uniquely positioned to broker a deal, noting his "dealmaking expertise" and political mandate. While Trump’s filing does not weigh in on the First Amendment arguments raised by TikTok, it emphasizes the preservation of the platform's availability to Americans while ensuring that national security risks are addressed.

Trump’s brief states that he "opposes banning TikTok in the United States at this juncture," further stressing that his administration would pursue a solution through negotiations rather than through immediate action by the courts.

The Legal Context

TikTok has been fighting the law requiring the sale of its U.S. operations, arguing that it infringes on the free speech rights of its millions of users. However, the U.S. government insists that the app poses national security risks due to its Chinese ownership, leading to the push for a forced sale.

The outcome of the Supreme Court's hearing, set for January, could significantly impact TikTok’s operations in the U.S., with the potential for the app to remain under its current ownership or be sold to a new operator.

Additionally, president Elected Donald Trump is reportedly exploring a controversial path to establish a U.S. Bitcoin Strategic Reserve without the Federal Reserve’s approval. 

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