An executive order issued by President Donald Trump on Friday forces TikTok's Chinese owners to sell the app's U.S. interests and destroy data it has collected from users within 90 days.
President Donald Trump issued an executive order on Friday ordering ByteDance, the Chinese parent company of popular app TikTok, to sell its U.S. assets and destroy data within 90 days.executive orders banning the owners of TikTok and WeChat from conducting any U.S. transactions by September 15, citing national security concerns. Microsoft has expressed interest in buying TikTok's U.S.
The new order states that ByteDance"shall divest all interests and rights" within 90 days in"any tangible or intangible assets or property, wherever located, used to enable or support ByteDance's operation of the TikTok application in the United States, as determined by" the Committee on Foreign Investment in the United States.
The order also retroactively invalidates ByteDance from obtaining any interest in Musical.ly, a social media video service that was acquired and merged with TikTok in 2017."There is credible evidence that leads me to believe that ByteDance Ltd. ... through acquiring all interests in musical.ly ... might take action that threatens to impair the national security of the United States," Trump wrote in the order.
The logo of Chinese video app TikTok is seen on the side of the company's new office space at the C3 campus in Culver City, California on August 11, 2020."The transaction resulting in the acquisition by ByteDance of Musical.ly ... is hereby prohibited," the order continues."And ownership by ByteDance of any interest in Musical.
ByteDance is ordered to destroy any data it has gathered from U.S. users of both TikTok and Musical.ly within 90 days. Secretary of State Mike Pompeo
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