In a surprise move, President-elect Donald Trump announced on Sunday that he plans to delay the ban on TikTok in the US, proposing a joint venture where the US government would own 50% of the popular social media app. Trump made the announcement on his social media platform, Truth Social, stating that he would issue an executive order on Monday to extend the period before the law's prohibitions take effect, allowing time for a deal to be made to protect national security.

The proposal comes as a surprise, given the recent ban on TikTok in the US, which was enacted due to concerns over the app's Chinese ownership and potential security risks. Trump's plan would involve service providers like Apple and Google putting TikTok back online in the US, with the US government holding a significant stake in the app. The President-elect claimed that this move would "save TikTok, keep it in good hands, and allow it to stay up," adding that without US approval, the app is worthless, but with it, it could be worth hundreds of billions or even trillions of dollars.

However, Republican lawmakers have already expressed skepticism about Trump's plan, casting doubt on its viability. House Speaker Mike Johnson stated on NBC's "Meet the Press" that the only way to extend the deadline for a sale is if there's an actual deal in the works, and that the law would be enforced. Senators Tom Cotton and Pete Ricketts also released a statement saying that there is no legal basis for an extension, and that ByteDance must agree to a sale that satisfies the law's qualified-divestiture requirements by severing all ties between TikTok and Communist China.

Trump's proposal has raised eyebrows, with many questioning the feasibility of the US government owning a stake in a private company. The move could also raise concerns about government control over social media platforms and the potential implications for free speech. Furthermore, it remains unclear how the US government would manage its stake in TikTok, and what kind of oversight would be in place to ensure the app's security and integrity.

The development comes as Trump prepares to take office on Monday, and it remains to be seen how his proposal will play out in the coming days. One thing is certain, however - the fate of TikTok in the US hangs in the balance, and the outcome of this saga will have significant implications for the tech industry and beyond.

This story is developing, and we will continue to provide updates as more information becomes available.