Trump gives TikTok 75-day grace period from US ban

US President Donald Trump signed an executive order on Tuesday, Jan. 21 (Philippine time) giving TikTok seventy-five days to find a buyer for its US business, offering the embattled app a crucial lifeline.

TikTok missed a deadline last weekend that ordered its Chinese owners ByteDance to sell its US subsidiary to non-Chinese buyers or be banned in the United States.

Earlier Sunday, Jan. 19, as millions of dismayed users found themselves barred from the app, Trump promised to issue an executive order delaying the ban to allow time to "make a deal."

He also called in a post on his Truth Social platform for the United States to take part ownership in TikTok.

Trump said he "would like the United States to have a 50% ownership position in a joint venture," arguing that the app's value could surge to "hundreds of billions of dollars—maybe trillions."

"By doing this, we save TikTok, keep it in good hands," wrote Trump, who had previously backed a TikTok ban and during his first term in office made moves towards one.

In a statement posted on X following Trump's comments, TikTok said it was "in the process of restoring service."

"We thank President Trump for providing the necessary clarity and assurance to our service providers that they will face no penalties providing TikTok to over 170 million Americans."

TikTok, which was back online in the United States by Sunday afternoon, did not address Trump's call for part American ownership of the app.(AFP)