Samuel Case, FISM News

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The deadline is fast approaching for the Chinese Company ByteDance to sell TikTok’s U.S. assets to keep the app operational in the United States. Trump has reiterated the deadline is set and will not be extended.

“It’ll either be closed up or they’ll sell it,” Trump said. “There will be no extension of the TikTok deadline.” U.S.chose to ban TikTok over concerns that information shared by users had the potential to be given to the Chinese government. Extending the deadline would mean extending such risks. However, TikTok has claimed it would not give any data to Beijing even if requested.

ByteDance is currently attempting to pick a buyer and finalize the sale by mid-September, to meet Trump’s deadline of September 20th. Bloomberg reports it’s likely ByteDance will miss this deadline thanks to new Chinese regulations that have complicated talks with potential buyers Microsoft and Oracle. 

Sourced from Reuters American Wire