Donald Trump signed an executive order to create a sovereign wealth fund, potentially aimed at purchasing TikTok due to national security concerns. This follows a brief suspension of the platform before a new law comes into effect, which requires ByteDance to sell TikTok. Trump mentioned ongoing discussions regarding TikTok, with a resolution expected by February. His recent actions also reflect a broad range of executive orders that may disrupt various aspects of American life, following his victory over Kamala Harris in the presidential election.
Trump stated that he was in talks with multiple entities about TikTok's purchase and anticipates resolving the app’s future by February.
The new executive order allows the US treasury and commerce departments to create a sovereign wealth fund that may include TikTok acquisition efforts.
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