The decision by the new US administration comes as the Chinese-owned app continued negotiations over its future.
The Trump administration contended TikTok posed national security concerns as the personal data of US users could be obtained by China’s government. TikTok, which has over 100 million US users, denies the allegation.
The former Republican president had attempted to force the sale of TikTok owned by Beijing-based ByteDance to an American company. If no deal was reached, Trump said TikTok would be effectively blacklisted in the US.
Courts, however, have repeatedly sided against Trump's effort to impose a ban on the company, ruling that the move appeared to be politically motivated.