Trump asks Supreme Court to delay TikTok ban; pessimism surrounds ongoing negotiations.

On December 27th local time,The whole process of FXCM foreign exchange being cheated U.S. President-elect Trump submitted a request to the Supreme Court to suspend the enforcement of the order to force the sale of TikTok. He stated that he hopes the court will grant time to resolve this dispute through political means after he officially takes office on January 20, 2024.

Background of the Case: TikTok Faces Risk of Forced Sale

According to the previous ruling, the U.S. Supreme Court plans to debate the bill banning TikTok's operation in the U.S. on January 10 and may issue a ruling before the bill takes effect on January 19. The bill requires TikTok's parent company, ByteDance, to divest the business, or else TikTok will be prohibited from continuing its operations in the U.S. However, ByteDance has made it clear they will not sell TikTok.

On December 16, TikTok requested the Supreme Court to temporarily freeze the U.S. government's order for a forced sale, stating that the bill not only infringes on TikTok's constitutional rights but also harms the interests of its 170 million American users. TikTok claimed that if the forced order is not suspended, small businesses on the platform could lose over $1 billion in revenue within a month, and creators could lose nearly $300 million.

Trump's Request Stirs Controversy

Trump submitted his opinion to the court in the form of an "amicus curiae." An "amicus curiae" is a non-party individual or organization that provides the court with additional information or perspectives, believing that their interests may be affected by the ruling. He further pointed out that if the ban takes effect on January 19, it might interfere with his management of U.S. foreign policy after taking office.

However, legal experts are not optimistic about this request. A legal expert close to the case stated: "Trump has only applied for a deferment, which does not substantially affect the court's ruling. This appears more like a negotiation tactic, aimed at gaining more bargaining leverage for the TikTok case." Zhang Xin, a professor at the University of International Business and Economics' School of Law, also believes that Trump hopes to keep the decision of the TikTok case within his term, but this move is unlikely to achieve substantial breakthroughs.

The Standoff Might Enter a New Cycle

Analysts point out that TikTok's current situation remains highly uncertain. Although Trump is trying to delay the ban's execution, TikTok has clearly stated it would rather shut down than sell. This means the case might enter a new cycle of standoff.

In this complex struggle involving politics, law, and business interests, TikTok's future remains full of uncertainties, and the market is closely watching the next developments.

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