Trump restates demand for cut from TikTok sale as September 15 deadline looms
05 September, 2020
President Donald Trump on Tuesday repeated his demand for a piece of the action from any sale of TikTok’s US businesses for forcing such a deal.
TikTok has been at the centre of a diplomatic storm between Washington and Beijing, and Trump gave Americans a deadline to avoid employing TikTok’s Chinese parent company ByteDance-effectively compelling a sale of the application to a US company.
“Well, I told them that they have until September 15th to make a deal; from then on, we close it up in this country,” Trump told journalists.
“And I said that america has to be compensated-well compensated-because we are the ones that are so that it is possible, and so we have to be compensated.”
Critics have slammed Trump’s call for the US government to have a cut of the deal, contending that it seems unconstitutional and akin to extortion.
Who owns popular video iphone app TikTok vowed to “strictly abide” by new export rules in China which could potentially complicate a sale of the business as demanded by Trump.
New Chinese rules
China’s commerce ministry the other day published new rules that added “civilian use” to a set of technologies that are restricted for export.
The new regulations will make it more difficult for ByteDance to market the wildly popular video app, which features clips of from dance routines and hair-dye tutorials to jokes about lifestyle and politics.
The move marked the first time China has adjusted its list of technologies subject to export bans or restrictions since 2008, adding 23 new items.
Walmart has confirmed it joined forces with Microsoft in negotiations to get TikTok. Oracle can be reported to be considering TikTok.
Days after TikTok filed a lawsuit challenging the crackdown by the government, CEO Kevin Mayer the other day quit the company.
TikTok-which has been downloaded 175 million times in america and greater than a billion times around the world-argued in the suit that Trump’s order was a misuse of the International Emergency Economic Powers Act because the platform is not “an unusual and extraordinary threat.”
Trump claims that TikTok could possibly be used by China to track the locations of federal employees, build dossiers on people for blackmail and conduct corporate espionage.
TikTok-used by as many as a billion persons worldwide to make quirky, short-form videos on the cellphones-has repeatedly denied sharing data with Beijing.
Source: