TikTok divestment could be ‘deal of the century’ for Trump, House China Committee chair says

House China Committee Chairman John Moolenaar believes that President-elect Donald Trump is the ideal leader to negotiate and deliver the “deal of the century” to keep TikTok available in the U.S. The Supreme Court is set to hear oral arguments on Jan. 10, 2025, regarding the law that requires a divestment of TikTok from foreign adversary control, specifically ByteDance, a company tied to the Chinese Communist Party.

The legislation, signed into law in the spring, mandates that TikTok be sold off from ByteDance by Jan. 19. Failure to comply with this deadline would result in Google and Apple removing TikTok from their app stores in the U.S. Moolenaar, the Republican chairman of the House Select Committee on China, is confident that Trump will secure a beneficial deal for America, possibly involving a buyout followed by a massive IPO, which could be the largest in history.

Moolenaar emphasized the significance of the TikTok legislation passed by Congress, giving Trump leverage in negotiations. He predicted that the divestment process could be completed swiftly after the Supreme Court’s decision, potentially leading to a significant IPO. Despite TikTok’s legal challenges arguing that the law violates the First Amendment, Moolenaar stressed the importance of complying with U.S. laws to prevent the Chinese Communist Party from influencing American culture.

While TikTok has introduced “Project Texas” to address national security concerns by isolating U.S. user data on American servers, Moolenaar believes that more substantial measures are necessary to safeguard national security. He emphasized the need for a divestment to ensure that an American or allied company, not connected to adversarial nations, assumes control of TikTok.

Moolenaar commended Trump’s negotiation skills and noted that the recent change in the CCP’s stance on TikTok has created an opportunity for a historic deal. Trump’s recent meeting with TikTok CEO Shou Zi Chew at Mar-a-Lago indicates his interest in exploring options to prevent the U.S. ban on TikTok. Moolenaar expressed confidence in Trump’s ability to navigate these negotiations effectively and protect national security interests.

In conclusion, Moolenaar emphasized the urgency of divesting TikTok from foreign adversary control to safeguard American interests. The upcoming Supreme Court hearing and Trump’s leadership offer a unique opportunity to secure a deal that ensures TikTok’s availability in the U.S. while protecting national security.