The Commerce Department announced that it no longer intends to enforce an order to shut down TikTok in the U.S. It cited a preliminary injunction against the shutdown by a district judge last month as the reason why.
- The judge claimed that the order would have exceeded the government’s authority as it impeded the robust exchange of informational materials.
- Just two days ago, TikTok filed a legal petition to challenge the Trump administration’s order to sell the company to a U.S. buyer in order to continue operating within the country. TikTok's petition challenged the constitutionality of the order, as well as the administration’s delays in finalizing a deal.
- Just as a reminder: After weeks of negotiations, a preliminary proposal in which Oracle and Walmart would take a combined 20% stake in a new U.S.-based entity, TikTok Global, was approved by President Trump. This would have allowed TikTok to continue operating, but the proposal faced disputes around how large TikTok’s parent company ByteDance’s stake in the new company should be.
- Meanwhile: President Trump issued a new executive order barring investment into 31 Chinese companies due to their links to the Chinese military.