US presidential candidate from the Republican Party Donald Trump expressed his support for the Tiktok social network, despite the potential ban looming if the Chinese company BYTEDANCE does not sell the application assets in the United States.
In an interview with Bloomberg Businessweek, Trump stated, “I am for Tiktok, because we need competition. Only Facebook and Instagram will remain without Tiktok.”
It is interesting to note that Trump had previously viewed Tiktok as a threat. As president in 2020, he had tried to ban Tiktok and the Chinese WeChat application in the US, but his efforts were blocked by the courts. President Joe Biden later revoked Trump’s decrees aimed at banning these apps in June 2021, but Tiktok now faces a more imminent threat of a ban.
While Trump had criticized META social networks Facebook and Instagram for suspending his account for two years following the January 6, 2021 events at the US Capitol, he now declares his support for Tiktok. This change in stance may be influenced by his personal experience on the platform after joining it recently.
It is pertinent to mention that Trump owns a controlling stake in the social media company Trump Media and Technology Group, which oversees the social network Truth Social, a direct competitor to X (previously Twitter). Despite having a market capitalization of $7 billion, the company’s quarterly revenue is only about $770 thousand.
In September, the US Court of Appeals will convene a hearing on the new law requiring BYTEDANCE to divest Tiktok assets in the US by January 19 or face a ban. These proceedings coincide with the 2024 election campaign, with the presidential elections slated for November this year.
The law signed by Biden on August 24 gives BYTEDANCE until January 19, 2025, to sell Tiktok assets in the US, failing which the app will be prohibited in the country. The White House cites national security concerns regarding Chinese ownership but does not advocate a total Tiktok ban. Biden’s election campaign also joined Tiktok in February.
The Tiktok Chinese Asset Law was passed by Congress in April this year amidst enduring apprehensions among American lawmakers that China could access or spy on Americans’ data through such a popular app.
*META and its products are considered extremist and are banned in Russia. **The social network X is also