President Trump orders ByteDance to sell U.S TikTok operations within 90 days
President Trump orders ByteDance to sell U.S TikTok operations within 90 days
U.S President Trump issued a new executive order to force ByteDance to sell its U.S TikTok operations within 90 days.
The new order also calls for ByteDance to destroy all copies of TikTok data attached to U.S users, and inform the Committee on Foreign Investment in the U.S when it has done so. Trump says "there is credible evidence" that leads him to believe that ByteDance might take action that threatens the national security of the country.
The 90-day deadline buys more time for ByteDance to negotiate a deal with U.S companies. Microsoft has officially confirmed that it is interested in acquiring TikTok's U.S operations although the Financial Times claims that Microsoft is now exploring to acquire its global business. Twitter is said to be interested as well though it lacks the financial resources of Microsoft.
Microsoft co-founder Bill Gates thinks the potential deal is "a poisoned chalice" and it is not a simple game to being big in the social media business". TikTok responded to the previous order and claimed it was issued without any due process.
Source: CNBC