TikTok Restores Services In US With Trump's Support

RTTNews | 220 days ago
TikTok Restores Services In US With Trump's Support

(RTTNews) - Social media platform TikTok, which had decided to disable services in the United States following the U.S. Supreme Court's decision to upheld a ban, began restoring its services on Sunday after President-elect Donald Trump announced his support.

The U.S. Supreme Court on Friday had upheld the Protecting Americans from Foreign Adversary Controlled Applications Act, which was signed into law in April, 2024. The legislation mandates that ByteDance, the Chinese parent company of TikTok, must divest its interest in the app by January 19, or face a nationwide ban.

Following the Court's decision, TikTok had announced that it would disable access to its immensely popular video app for over 170 million Americans on Sunday unless the U.S. administration urgently assures that it will not face enforcement actions when the ban takes effect.

Meanwhile, the Biden administration stated that it would leave the enforcement of the ban to Trump, who is set to take charge on Monday.

However, following the Court rule, Trump said he would revive the app's access in the U.S. when he returns to power.

In a Truth Social response, Trump said, "I'm asking companies not to let TikTok stay dark! I will issue an executive order on Monday to extend the period of time before the law's prohibitions take effect, so that we can make a deal to protect our national security. The order will also confirm that there will be no liability for any company that helped keep TikTok from going dark before my order."

He also talked about his interest for the United States to have a 50 percent ownership position in a joint venture, so as to save TikTok, keep it in good hands and allow it to say up. A joint venture between the current owners and/or new owners whereby the U.S. gets half of ownership.

"Without U.S. approval, there is no Tik Tok. With our approval, it is worth hundreds of billions of dollars - maybe trillions," Trump noted. Trump also talked about his plan on Tik Tok at a rally on Sunday, ahead of his inauguration, noting that the U.S. will seek to restore the short-video sharing app.

In a post on the X platform, TikTok said, "In agreement with our service providers, TikTok is 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 and allowing over 7 million small businesses to thrive. It's a strong stand for the First Amendment and against arbitrary censorship. We will work with President Trump on a long-term solution that keeps TikTok in the United States."

read more
European Stocks Close Weak

European Stocks Close Weak

European stocks closed lower on Thursday as the mood remained largely cautious with investors closely following geopolitical news, digesting tech giant Nvidia's earnings, and some crucial economic data from the U.S.
RTTNews | 27 minutes ago
U.S. Pending Home Sales Fall More Than Expected In July

U.S. Pending Home Sales Fall More Than Expected In July

A report released by the National Association of Realtors on Thursday showed pending home sales in the U.S. fell by more than expected in the month of July. NAR said its pending home sales index decreased by 0.4 percent to 71.7 in July after sliding by 0.8 percent to 72.0 in June. Economists had expected pending home sales to edge down by 0.1 percent.
RTTNews | 3h 27min ago
Eurozone Economic Confidence Weakens In August

Eurozone Economic Confidence Weakens In August

Eurozone economic sentiment softened unexpectedly in August as only industry and retail trade showed improvements, survey results from the European Commission showed Thursday. The economic sentiment indicator slid to 95.2 in August from a revised 95.7 in the previous month. The score was forecast rise to 96.0.
RTTNews | 3h 38min ago
U.S. Economy Surges More Than Previously Estimated In Q2

U.S. Economy Surges More Than Previously Estimated In Q2

The U.S. economy grew by more than previously estimated in the second quarter of 2025, according to revised data released by the Commerce Department on Thursday. The report said real gross domestic product shot up by 3.3 percent in the second quarter compared to the previously reported 3.0 percent surge. Economists had expected the jump in GDP to be upwardly revised to 3.1 percent.
RTTNews | 4h 1min ago
U.S. Weekly Jobless Claims Dip Roughly In Line With Estimates

U.S. Weekly Jobless Claims Dip Roughly In Line With Estimates

A report released by the Labor Department on Thursday showed a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 23rd. The Labor Department said initial jobless claims dipped to 229,000, a decrease of 5,000 from the previous week's revised level of 234,000. Economists had expected jobless claims to slip to 230,000.
RTTNews | 4h 7min ago
Switzerland Logs Weaker Growth, Trims 2026 Outlook

Switzerland Logs Weaker Growth, Trims 2026 Outlook

The Swiss economy expanded modestly in the second quarter, as estimated earlier, and higher U.S. tariffs are set to push down growth prospects, the State Secretariat for Economic Affairs said Thursday. Gross domestic product grew 0.1 percent from the first quarter, unchanged from the flash estimate. Growth softened notably from 0.7 percent in the first quarter.
RTTNews | 5h 12min ago