Many brands, including furniture retailers, use TikTok to market and sell products. However, the platform faces an uncertain future in the United States as President Donald Trump has proposed acquiring its US assets through a newly established sovereign wealth fund.
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Trump signed an executive order on Monday to create the country's first government-owned investment fund, which could potentially be used to purchase TikTok. Speaking alongside Treasury Secretary Scott Bessent, Trump suggested that the app's acquisition was a possibility but did not confirm any concrete plans. 'We're going to be doing something, perhaps with TikTok and perhaps not, if we make the right deal,' he stated.
The viability of such a purchase remains unclear, as sovereign wealth funds typically rely on surplus government revenue, whereas the US operates at a deficit. Reuters reported that congressional approval might be required due to the lack of a clear funding source.
TikTok, owned by Chinese company ByteDance, was temporarily unavailable to US users last month and has yet to return to app stores. The platform remains accessible to those who had previously downloaded it. Trump extended the existing ban on TikTok—originally imposed under President Joe Biden—on his first day in office, citing national security concerns. The app now faces an April deadline to secure a new owner.
Industry experts suggest that businesses reliant on TikTok for marketing, including furniture brands, should prepare for alternative strategies if the platform is removed from the US market.
Source: www.furnituretoday.com