TikTok got another expansion to find a US-based buyer. And the deadline reappeared and disappeared without action. The app remains in the app stores.
3 min read
This article has been translated from our English edition.
The opinions of the employees of You are personal.
- president Donald Trump named ByteDance and its TikTok app a national security threat.
- The final deadline for entry and exit was December 4th. It is unclear how long TikTok will stay in this waiting pattern.
The state Tick tock in the United States it remains uncertain. Recently the United States Foreign Investment Committee (CFIUS for its acronym in English) excellent the parent company ByteDance another extension to find a buyer. That time came and went, but after Bloomberg, that won’t matter much.
The sources of Bloomberg Specify that TikTok won’t be banned or given a new deadline. TikTok will continue talks with the US government to meet the set requirements for a buyer. That said, the video platform is essentially in limbo for now.
“The committee is working with ByteDance to complete the divestment and other necessary steps to resolve the national security risks arising from the transaction, in accordance with the presidential decree of Aug. 14,” a Treasury Department spokesman said in a statement. .
This situation has existed since August. president Donald Trump named ByteDance and its TikTok app a national security threat. ByteDance’s government ordered ByteDance to sell its US business. The US Department of Commerce later issued an order to block TikTok downloads in the American country, which was not met.
Following his statement, Trump tentatively gave approval to a special agreement between Walmart Y. oracle to establish the US-based unit “TikTok Global”. Not much has happened since then, apart from some delays in banning TikTok from American app stores.
The final deadline for entry and exit was December 4th. It is unclear how long TikTok will stay in this waiting pattern. At this time, the application can still be downloaded and used normally.