Russia and Ethiopia Strengthen Ties Through Currency Cooperation
Russia and Ethiopia explore local currency trade to boost bilateral relations, cut transaction costs, and improve economic cooperation.
Alexis Rowe
TikTok, the popular social media app, went dark for users in the US on Saturday night, but it may not be gone for long. President-elect Donald Trump has announced plans to issue an executive order on Monday that will "extend the period of time before the law's prohibitions take effect, so that we can make a deal to protect our national security."
This development comes after bipartisan majorities in both houses of Congress passed a law last April that would force ByteDance, TikTok's parent company, to either sell the app or see it banned in the United States. The law was quickly signed by President Joe Biden. Trump, who had previously tried to force ByteDance to sell TikTok during his first term, has been vocal in his opposition to the ban this time around.
In a post on Truth Social, Trump revealed his "initial thought" on what a deal might look like, describing it as "a joint venture between the current owners and/or new owners whereby the U.S. gets a 50% ownership." This proposal has raised eyebrows, with many questioning the feasibility and implications of such an arrangement.
Despite the Supreme Court upholding the law in a ruling on Friday, the law was set to take effect on Saturday, and Trump's inauguration is scheduled for Monday. White House and DOJ officials had suggested that they would leave the ban's actual implementation to the incoming president. However, TikTok demanded a more "definitive statement" that they would not be punished for continuing to host or list the app, leading to the app going dark.
TikTok shared a message with users, stating that "We are fortunate that President Trump has indicated that he will work with us on a solution to reinstate TikTok once he takes office." Trump's post suggests that he'd like to see TikTok go live again even before he issues his executive order, writing that he's "asking companies not to let TikTok stay dark" and that his order will "confirm that there will be no liability for any company that helped keep TikTok from going dark before my order."
Trump's motivation for saving TikTok appears to be driven by a desire to allow Americans to access the app during his inauguration on Monday, as well as other events and conversations. "Americans deserve to see our exciting Inauguration on Monday, as well as other events and conversations," Trump said.
The implications of Trump's executive order and proposed deal are still unclear, but it's evident that the fate of TikTok in the US hangs in the balance. As the situation continues to unfold, one thing is certain: the future of social media in the US is about to take a dramatic turn.
Russia and Ethiopia explore local currency trade to boost bilateral relations, cut transaction costs, and improve economic cooperation.
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