Why Is Trump Planning to Take Half Ownership of TikTok for the U.S.?

President-elect Donald Trump announced to his supporters that he wants the Chinese-owned video app TikTok to be at least 50% owned by American investors.

During a rally in Washington, Trump declared his intention to allow TikTok to continue its operations in the U.S. only if it agrees to this substantial American ownership.

Trump stated, “Without permission to operate, TikTok is worth nothing.” He believes that with U.S. approval, TikTok could be worth a huge amount, like a trillion dollars. 

He described this plan as a partnership where the U.S. would join in owning TikTok, attracting many potential U.S. investors.

The app was blocked for about 12 hours on Sunday because of a new law. This law would have banned TikTok unless its Chinese owners sold it. 

The app started working again after Trump said he would sign an order to allow TikTok to operate in the U.S. again, right before he takes office.