The Trump administration opted not to grant ByteDance a new extension of an order requiring the Chinese company to divest TikTok’s U.S. assets
TikTok is still in talks with the U.S.
government about a sale that satisfies the administration’s national security
This Friday, the deadline for agreeing the terms of the ByteDance deal with the US authorities to sell the TikTok business in the US expired, but informed sources say the government will not name new end dates, while not refusing to continue negotiations.
This was reported by Reuters and Bloomberg , discussing the deadline for making a decision on the fate of the TikTok service in the United States that expired yesterday. Negotiations have so far been unsuccessful, according to sources, but the participants do not intend to take any drastic measures right now, hoping to close a deal before President Donald Trump leaves office in January. There will be no new date as the deadline for the decision.
Recall that Donald Trump and his administration began to persuade the Chinese company ByteDance to sell the service TikTok, which serves American users, to a consortium of local companies, which included Oracle and Walmart. They were supposed, according to the plan of the American side, to gain complete control over user data and software algorithms. The Chinese side was in no hurry to share the latter, since the Chinese authorities insisted on this, as a result of which the terms of the deal were revised at least five times. TikTok in court managed to get a delay in the introduction of a ban on downloading the application by American users, so now the main struggle is around the further fate of American assets.