TikTok out of business in US if not sold by September 15: US President Donald Trump
US President Donald Trump said on August 3, 2020 that TikTok will be "out of business" in the United States if it is not sold to a US firm by September 15.
Trump stated that he has set a date of around September 15, by which the hugely popular Chinese-owned video-sharing app TikTok will be going out of business in the United States.
The US President confirmed in an official statement that the app will close down on September 15 unless Microsoft or somebody else is able to buy it and work out a deal. He further added that he would ban the operations of the company through an executive action.
US President Donald Trump says TikTok 'out of business' in US if not sold by around September 15: AFP news agency— ANI (@ANI) August 3, 2020
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The US Treasury Secretary Steven Mnuchin said on August 2, 2020 that the Chinese-owned video app, TikTok, cannot stay in the US in its current format, as it risks sending back information of almost 100 million Americans.
The United States has been reviewing the Chinese company for months. The US has repeatedly raised its concerns over leaking of data of millions of American users to the Chinese government. TikTok has repeatedly denied the accusation and attempted to assure that all user data on the platfrom is safe from the interference of the Chinese government.
Microsoft to buy TikTok?
Microsoft has reportedly been having discussions with TikTok's owner, Chinese tech giant ByteDance, since mid-July to buy TikTok’s US, Canada, Australia and New Zealand operations. TikTok is currently valued at US$50 billion.
The US announcement concerning TikTok comes just days after India banned 106 Chinese apps including TikTok stating that they are prejudicial to sovereignty and integrity of India as well to the security of state, Defence of India and public order.