President-elect Donald Trump announced his strategy to “save” TikTok, declaring at the outset, “as of today, TikTok is back.” He explained both his personal fondness for the app and his plan for a U.S. government stake in the company. Speaking at a pre-inauguration rally in Washington, D.C., Trump shared his direct experience with TikTok, crediting it for helping him secure the youth vote by a significant margin in the recent election. “We won the youth vote by 36 points,” Trump stated, contrasting this with past Republican performances, like Mitt Romney’s loss by 40 points in previous elections.
Trump’s rationale for supporting TikTok centers on its popularity and economic implications. “Very popular. And frankly, we have no choice. We have to save it – a lot of jobs,” he said, emphasizing the platform’s importance to employment and U.S. business interests. He expressed concern over not wanting to cede market share to China or other foreign entities.
His proposed solution involves a joint venture where the U.S. would gain a 50% ownership in TikTok. Trump leverages the authority Congress has historically granted the president to negotiate deals, noting, “Congress gave the president the right to make a deal, do whatever he wants.” He outlined that without presidential approval, TikTok’s value would plummet to zero, but with his endorsement, it could be worth “like a trillion dollars.”
Trump’s plan is for the U.S. to approve TikTok’s operations in exchange for a significant ownership stake, essentially making the U.S. a partner in the venture. This approach, he argues, comes with “no risk” as it doesn’t involve direct financial investment from the U.S. government; the value is in the approval itself. “All we’re doing is giving them the approval, without which they don’t have anything,” he explained, suggesting this deal would open the door for numerous bidders interested in partnering with the U.S. in this venture.
Trump’s speech reflects a blend of political strategy, economic interest, and a personal endorsement of the app, suggesting that whether one likes TikTok or not, the economic benefits of this deal are undeniable. His approach aims to navigate the complex geopolitical and economic landscape surrounding TikTok, proposing a solution that he believes benefits both the company and the U.S.
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