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The US administration gave another 15 days to decide on Chinese technology company ByteDance, which owns the TikTok application, to divest its US operations.
In a written statement by U.S. Treasury Department spokesperson Monica Crowley, it was recalled that U.S. President Donald Trump signed a decree on Aug. 14 to divest the operations of Chinese tech company ByteDance in the U.S. within 90 days.
The statement states that the Foreign Investment Committee (CFIUS) in the US has decided to extend the period granted to ByteDance until November 12 for another 15 days.
Therefore, with this extension, additional time was given to the parties and the Committee to resolve the situation in question.
US President Donald Trump announced on August 3 that he would ban the Chinese social media platform TikTok on September 15 if his US arm was not sold to any American company.
On August 6, Trump signed 2 decrees to ban U.S. individuals or organizations from doing business with the social media applications of Chinese companies TikTok and WeChat for reasons of national security protection.
Trump, who does not want TikTok to be under the control of China due to security concerns and said a US-based company should take over the US arm of TikTok, on Aug. 14, Chinese tech company ByteDance, which owns TikTok application, dismantled its US operations within 90 days. issued a decree.
In that period, it was reported to the media that Microsoft, a leading technology company in the United States, was in talks to buy the TikTok application belonging to the Chinese company ByteDance, on September 13 it was confirmed that the US operations of the application did not they would be sold to Microsoft and it was noted that ByteDance had a deal with Oracle.
On September 18, the US Department of Commerce announced that TikTok will be banned from downloading TikTok in the country from September 20 for reasons of “national security protection”, after Trump announced he would sign a possible deal to acquire the US arm. of TikTok in the Oracle-Walmart partnership. the ban was postponed to 27 September.
Hours before the ruling took effect, a federal court in Washington, DC temporarily suspended the ban on TikTok.
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