Donald Trump has since signed an executive order extending the divestiture deadline for TikTok until December 16. As the former president himself has stressed, the app is central to his electoral success. He’s just as passionate about keeping it running inside the United States.
Under the executive order, Trump is providing ByteDance additional time to meet US federal law requirements. Congress forced the administration’s hand. The law requires the Chinese parent company of TikTok, ByteDance, to sell its American operations or face being banned in the U.S. This important law has been buoyed by unprecedented bipartisan support from Congress. It responds to serious, bipartisan, and national security concerns about the app’s incredibly effective and secret content algorithm.
Indeed, Trump has all but named TikTok as one of the cornerstones of his successful long-shot presidential campaign. He has maintained that, personally and politically, his survival depends on keeping the platform alive in the U.S. The executive order pushes back the deadline. Equally significant is that it illustrates Trump’s willingness to agree to a deal that would allow TikTok to continue to operate without disruption.
As these negotiations crawl along, three large players are set to have joint leadership over nearly 45% of TikTok USA. Among them is billionaire investor Jeff Yass, whose firm Susquehanna is one of the largest investors in ByteDance. Yass is perhaps best known for being an owner of a stake in Truth Social, Trump’s social media platform. These smart investments place him directly at the intersection of politics and technology. They show us the deep ties between government and private industry.
That ultimatum ByteDance has been forced to comply with has sharpened focus on TikTok’s data practices and in particular its connections to China. Lawmakers on both sides of the aisle have consistently raised alarms over national security risks associated with the platform. They are especially concerned about the privacy of user data and the ability to manipulate content. For the sake of US national interests, this bipartisan initiative represents a prudent and increasing consensus that we need regulatory measures to protect the nation.