Social-Media
ByteDance is getting another extension from the U.S. government to sell TikTok
Trump's administration has once again extended the deadline for ByteDance to sell TikTok's company video sharing site in the US, Reuters reported. The Committee on Foreign Investment in the United States (CFIUS) gave ByteDance, based in China, until 4 December either to sell or to spin out its US business, according to a court of law. CFIUS has apparently granted the extension to allow time for a revised submission to be reviewed that it has recently obtained.
President Trump said in August that TikTok and its parent company were a national security danger to the United States and released an initial order compelling TikTok to sell its US firm. Trump's order would have blocked all dealings of ByteDance in the US.
In September, the US Department of Commerce released an order to ban TikTok downloads in the US. The President then said that he had "approved in concept" an agreement with Oracle and Walmart calling for the development of a new US-based company, TikTok Global.
The deal has yet to be concluded, though and TikTok said earlier this month that he had received "no substantive feedback" from the Trump administration for some time. The Government then released a notice on 13 November setting a new deadline for the agreement on 27 November.
However the government is also bound by an order issued by a federal judge in Pennsylvania on 30 October. The Commerce Department released an unpublished rule that the Entity is compliant with the terms of the decision of that court. Its ban on TikTok transactions has been ordered and will not enter into force until further legal developments have taken place.
TikTok did not respond immediately to a request for comments on Saturday.
