SAVING TIKTOK FROM GOING DARK: Today, President Donald J. Trump signed an Executive Order saving TikTok from a ban while protecting America’s national security.
- President Trump has determined that the divestiture outlined in a proposed framework agreement, in which TikTok’s U.S. application would be operated by a new joint-venture company based in the United States, is a “qualified divestiture.”
- It will be majority-owned by U.S. investors, operated in the U.S. by a board of directors with national security and cybersecurity credentials, and subject to strict rules to protect Americans’ data and our national security.
- ByteDance will hold less than 20% of the stock as required by law, choose only one director of the seven-seat board, and be excluded from the company’s security committee.
- Oracle—one of the nation’s leading technology companies—will act as TikTok’s security provider and independently monitor and assure the safety of all operations in the U.S.
- The proposed divestiture resolves the national security concerns and complies with the Protecting Americans from Foreign Adversary Controlled Applications Act (Act) by removing TikTok in the United States from China’s control.
- The divestiture puts the operation of the algorithm, code, and content moderation decisions under the control of the new joint venture.
- The divestiture prohibits the storage of sensitive U.S. user data in a manner that would allow such data to be under the control of a foreign adversary. All U.S. user data will be stored in a trusted, secure, and purpose-built cloud environment in the United States run by Oracle.
- The divestiture includes intense monitoring of software updates, the algorithm, and data flows, and it requires all recommendation models, including algorithms, that use U.S. user data to be retrained and monitored by America’s trusted security partners. This ensures U.S. content is free from improper manipulation.
- The Order directs the Attorney General not to take action to enforce the Act for 120 days to allow the divestiture to be completed.
ENSURING AMERICANS BENEFIT: President Trump found a solution for the 170 million Americans who use TikTok, ensuring users will be able to safely enjoy the same global TikTok experience and view content from around the world with the confidence that their data is secure in the United States.
- American content creators rely on TikTok for their livelihood, using it to build audiences, share their talents, and generate income in an increasingly digital economy.
- Similarly, American businesses—large and small alike—depend on TikTok’s vast reach for advertising, connecting with customers, and driving economic growth.
- Through this deal, President Trump has found a way to keep TikTok operational while resolving these national security issues with new American investment and control.
- Preserving TikTok’s business will generate $178 billion in economic activity in the U.S. over the next four years and sustain thousands of U.S. jobs and businesses.
THE ART OF THE DEAL: President Trump has demonstrated time and again his ability to close deals that put America and its citizens first.
- President Trump has a long track record of national security and foreign policy successes, including enacting the Abraham Accords, replacing NAFTA with USMCA, and brokering the Phase One China Trade Deal.
- Since returning to office, President Trump and his Administration have secured the release of 72 detained Americans abroad.
- President Trump’s bold trade strategy has yielded historic agreements with major trading partners—including the European Union, United Kingdom, Indonesia, the Philippines, South Korea, Vietnam, and more—unlocking unprecedented investments in the United States and expanding market access for American goods.
- President Trump’s pressure led Panama to exit China’s Belt and Road Initiative, a debt-trap diplomacy scheme the Chinese Communist Party uses to gain influence over developing nations.
- President Trump: “And if we can save it, I think that would be a very good thing. And I think it would be economically good for America.”
Source link