There's a definite probability that Trump is trying to do his usual Pay-For-Play thing, but I think it's at least as likely that Trump turned against it because it signals an effort in Congress to get something done, and Trump's whole schtick is that nobody can do anything without him. ("Only I can fix it")
And of course, there's some probability that Trump is playing monkey in the middle again, setting up the conflict and looking for his profit opportunity, which kinda knits the whole thing together.
Steve Bannon, the one-time adviser to Donald Trump, suggested on Saturday that the former president was paid off after a shift in stance on TikTok.
TikTok, the immensely popular video-sharing app known for its predominantly young audience, has once again come under scrutiny from U.S. lawmakers. The app is currently owned by Chinese tech company, ByteDance, which has spurred significant suspicion that its abundance of user data is being furnished to the Chinese government.
While ByteDance and TikTok have dismissed these accusations, lawmakers have continued to consider their options. A bipartisan bill put forward by members of the House Select Committee on the Strategic Competition between the United States and the Chinese Communist Party last week would work to "incentivize divestment of TikTok" by ByteDance by blocking it from appearing in American app stores and granting Executive Branch authority to take similar action in the future against social media companies operated by a "foreign adversary."
Lawmakers on the House Committee on Energy & Commerce advanced the legislation last week in a 50-0 bipartisan vote to the full U.S. House of Representatives. TikTok, meanwhile, characterized the bill as a ban, and urged users to encourage their local representatives to block it.
Despite his past stances in favor of action against TikTok for its Chinese ties, Trump, the leading candidate for the 2024 GOP presidential nomination, wrote in a Truth Social post on Thursday that he opposed the recent bill, citing his oft-repeated false claims about widespread voter fraud during the 2020 presidential election.
"If you get rid of TikTok, Facebook and Zuckerschmuck [CEO Mark Zuckerberg] will double their business," the former president wrote. "I don't want Facebook, who cheated in the last Election, doing better. They are a true Enemy of the People!"
In response to this post, reports noted that the seeming shift in stance from Trump came after a meeting with Jeff Yass, a conservative hedge fund manager who has a $33 billion stake in TikTok. Yass, according to Intelligencer, has been allegedly threatening to pull support from GOP lawmakers who back the bipartisan divestment bill.
American Plutocracy 101: The rigging of the system lies in a rich guy exerting influence over policy by waving his checkbook at the decision-makers.
Bannon, who led Trump's successful 2016 presidential campaign and served as a White House adviser for the first several months of Trump's presidency, took to Gettr to make his suspicions about the situation clear.
"Simple: Yass Coin," he wrote in a post that included a link to an Axios story about Trump's flip on TikTok, without providing further evidence. Newsweek has not seen any evidence that Trump's meeting with Yass and his stance on TikTok are connected.
Newsweek reached out to Trump's office via email for comment on Saturday afternoon. Any responses received will be added to this story in a later update.
In August 2020, Trump issued an executive order ordering ByteDance to sell its U.S. assets and destroy all data within 90 days.
"There is credible evidence that leads me to believe that ByteDance Ltd.... through acquiring all interests in musical.ly...might take action that threatens to impair the national security of the United States," the order read.
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