Close Menu
    What's Hot

    Bitcoin Holds $64K Amid $191M in Liquidations: L2 Secures $33M

    August 5, 2026

    Regenxbio Q2 2026 Earnings Preview (RGNX:NASDAQ)

    August 5, 2026

    Amtrak Travel Mistakes I Made on a Long Round-Trip Ride

    August 5, 2026
    Facebook X (Twitter) Instagram
    Hot Paths
    • Home
    • News
    • Politics
    • Money
    • Personal Finance
    • Business
    • Economy
    • Investing
    • Markets
      • Stocks
      • Futures & Commodities
      • Crypto
      • Forex
    • Technology
    Facebook X (Twitter) Instagram
    Hot Paths
    Home»Politics»Congress finds Trump's TikTok sale scheme confusing, possibly illegal
    Politics

    Congress finds Trump's TikTok sale scheme confusing, possibly illegal

    Press RoomBy Press RoomJanuary 23, 2025No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Members of Congress are declaring themselves bewildered by Donald Trump’s latest proposal to save TikTok by brokering a joint-ownership deal.

    “I don’t know what he means by that,” said Sen. Rand Paul (R-Ky.), of Trump’s suggestion to broker a “joint venture” in which “the U.S. should be entitled to get half of TikTok.”

    “I don’t understand what the president is doing,” said Rep. Gregory Meeks (D-N.Y.), ranking member of the House Foreign Affairs Committee.

    Trump has promised to hash out a deal to keep TikTok in business, despite a law that ordered its parent company to divest by last Sunday. His solution is a split-ownership arrangement that may involve the U.S. itself owning a share of the company.

    “What I’m thinking about saying to somebody is, buy it and give half to the United States of America,” Trump said at a press conference Tuesday night. “And we’ll give you the permit.”

    The idea has managed the unique Washington feat of uniting both supporters and skeptics of the ban, who object to both the idea of joint ownership with China and U.S. ownership of a social-media app at all — and also argue it doesn’t comply with the law’s requirement that ByteDance simply divest the company.

    “By the law, it doesn’t allow that. It’s my understanding of the law,” Sen. Rick Scott (R-Fla.), a staunch Trump ally, told POLITICO.

    Paul, who opposes the TikTik ban on free-speech grounds and introduced his own bipartisan bill this week to repeal it, said he was opposed to Trump’s solution: “I’m not for public ownership of any companies,” he said.

    Trump’s comments haven’t specified whether half would go to an American owner, or literally half would be owned by America. Trump’s idea also appears to give a role to China in the negotiations and possibly the ownership structure.

    “That’d be a forever violation of the law. It wouldn’t be a minor adjustment,” said Sen. Kevin Cramer (R-S.D.). “I think if China has one percent ownership, it’s a violation of the law.”

    But it’s also not clear under the law what role Congress can play in stopping Trump.

    On the floor Wednesday, Maria Cantwell (D-Wash.), the top Democrat on the Senate Commerce Committee, pleaded with Trump to take a more collaborative approach on the app’s future.

    “Senators and members of Congress want to work with President Trump as he tries to end what is a Chinese overinfluence on such an important national security threat,” she said. “I don’t know that a joint venture with the Chinese is going to rectify this issue about the algorithm.”



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Press Room

    Related Posts

    What’s Kat Abughazaleh’s Deal? | The Nation

    April 7, 2025

    The Making of Chuck Schumer

    April 6, 2025

    Smoke Signals

    April 4, 2025
    Leave A Reply Cancel Reply

    LATEST NEWS

    Bitcoin Holds $64K Amid $191M in Liquidations: L2 Secures $33M

    August 5, 2026

    Regenxbio Q2 2026 Earnings Preview (RGNX:NASDAQ)

    August 5, 2026

    Amtrak Travel Mistakes I Made on a Long Round-Trip Ride

    August 5, 2026

    Elon Musk Grok AI Just Predicts the Bottom for Bitcoin, Here’s the Number

    August 5, 2026
    POPULAR
    Business

    The Business of Formula One

    May 27, 2023
    Business

    Weddings and divorce: the scourge of investment returns

    May 27, 2023
    Business

    How F1 found a secret fuel to accelerate media rights growth

    May 27, 2023
    Advertisement
    Load WordPress Sites in as fast as 37ms!

    Archives

    • August 2026
    • July 2026
    • June 2026
    • May 2026
    • April 2026
    • March 2026
    • February 2026
    • January 2026
    • December 2025
    • November 2025
    • October 2025
    • September 2025
    • August 2025
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • May 2023

    Categories

    • Business
    • Crypto
    • Economy
    • Forex
    • Futures & Commodities
    • Investing
    • Market Data
    • Money
    • News
    • Personal Finance
    • Politics
    • Stocks
    • Technology

    Your source for the serious news. This demo is crafted specifically to exhibit the use of the theme as a news site. Visit our main page for more demos.

    We're social. Connect with us:

    Facebook X (Twitter) Instagram Pinterest YouTube

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Buy Now
    © 2026 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.