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The US government will not offer ByteDance an additional extension to complete the divestment of US assets of its popular TikTok video sharing service, ordered by President Donald Trump in August, Reuters sources said.
The Chinese company is in talks with Walmart and Oracle for a deal, which will transfer ownership of its U.S. operations to a new entity to comply with Trump’s executive order. The US administration has labeled TikTok as a national security threat, claiming it exposes US users’ personal data to the Chinese government.
ByteDance, which denied the allegations, has begun negotiations on the divestment plan, but so far has not completed it. The US Foreign Investment Committee (CFIUS) had twice granted extensions to implement the deal, which Trump said had its “blessing.” But no delay will be accepted now, as the deadline expired on Friday, Reuters reported, citing unnamed sources.
Trump reportedly made the decision personally to deny a further truce during a meeting with senior US officials. Negotiations with ByteDance for the loss of its US assets will continue.
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In early November, ByteDance filed a petition with the US Court of Appeals contesting Trump’s order. He said he will try to block its application in case of negotiations on the proposed deal “Reaching a dead end”.
The company previously successfully overturned a US government order to remove TikTok from app stores, keeping it available for new downloads in the US. There are approximately 100 million service users in the country.
Beijing sees Washington’s pressure against ByteDance as a form of “National Bullying” adapting a broader model of discrimination against Chinese companies.
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