Donald Trump declared "America's decline is over" in his inauguration speech on Monday, outlining an ambitious plan to reclaim the country's "rightful place" in the world in the face of growing challenges from rivals including China.

Within hours of his inauguration on Monday, Trump postponed a deadline requiring TikTok’s Chinese parent company ByteDance to sell its stake in the app or face a ban in the country. Trump argued that the US “should be entitled to get half of TikTok ” if the app continued operating beyond that cut-off and that he could “certainly” impose tariffs on China if it rejected a deal,