Vice President JD Vance was reportedly tapped Friday to forge a deal to avoid wasting TikTok.
President Trump has assigned Vance to discover a purchaser for the favored Chinese language-owned social media app forward of an April 5 deadline for it to be bought or shut down.
Vance, who ran a hedge fund earlier than operating for workplace, can be trying to discover a deep-pocketed tech titan to snap up the American operations of the app.
TikTok app brand. (AP Picture/Kiichiro Sato, File)
Congressional hawks from each events have lengthy warned concerning the nationwide safety menace posed by TikTok as a result of it may possibly entry the information of its 170 million American customers.
Republicans and Democrats united to overwhelmingly cross a invoice ordering TikTok’s China-based mum or dad firm, ByteDance, to promote the app’s U.S. operations by January 19, the day earlier than Trump’s inauguration, or be shut down.
Trump, who as soon as harshly criticized TikTok, flip-flopped to signal an government order on his first day in workplace delaying for 75 days the enforcement of the legislation.
Now the White Home is below strain to forge a deal that may appease conservative China hawks whereas maintaining joyful the legions of Individuals who use the app for every part from e-commerce to humorous cat movies and political takes throughout the political spectrum.
Many potential patrons have been put ahead together with Microsoft, Trump ally Elon Musk or a gaggle fronted by billionaire Frank McCourt and “Shark Tank” star Kevin O’Leary.
Trump has floated the concept of the federal authorities taking a stake in TikTok by means of the brand new sovereign wealth fund he launched.
