TikTok Faces Deadline for Divesting US Operations
November 12, 2020
The U.S. Treasury Department and China-based ByteDance say they are
focused on resolving a battle over U.S. security concerns that prompted
President Donald Trump to order the company to divest its popular TikTok
app by Thursday.
Trump signed an Aug. 14 order setting a 90-day deadline as he alleged
that if the app remains under the control of a Chinese company, then the
Chinese government could spy on TikTok users.
says it is not a security threat. It has been pursuing an agreement with
Oracle and Walmart to shift TikTok’s U.S. operations to a new company,
and earlier this week asked a court to authorize an extension after
receiving “no substantive feedback” from the Trump administration about
its proposed fix.
"Facing continual new requests and no clarity on whether our proposed
solutions would be accepted, we requested the 30-day extension that is
expressly permitted in the August 14 order," TikTok said in a statement
The Treasury Department said Wednesday it “remains focused on reaching a
resolution of the national security risks arising from ByteDance’s
acquisition of Musical.ly, in accordance with the August 14 order signed
by the President, and we have been clear with ByteDance regarding the
steps necessary to achieve that resolution.”
TikTok has 100 million U.S. users.
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