close video President Trump announces formation of Stargate project

President Trump makes a major infrastructure announcement on his second day in office.

President Donald Trump on Monday said Microsoft was in talks to acquire TikTok, shortly after the social media app went dark last week. He further suggested that he would like to see a bidding war over the popular platform. 

Trump previously said that he was in discussions with several parties about a potential acquisition of TikTok, which has about 170 million American users, and expects to make a decision on the app's future within the next 30 days, Reuters reported. 

The app was briefly taken offline just before a law, which required ByteDance to either sell it or face a ban, took effect on Jan. 19. However, after taking office on Jan. 20, Trump signed an executive order delaying the enforcement of the law by 75 days.

The law was put in place because of concerns that the app was misusing the data of its users. 

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