No deal between US and TikTok as asset sale deadline nears
The Friday deadline was for ByteDance to come up with a deal to sell TikTok operations in the US.
Other apps are looking to profit from TikTok’s troubles in the US. GETTY IMAGES NORTH AMERICA/AFP/File/Drew Angerer
A temporary injunction issued in September in a separate suit filed by TikTok itself prevented the government from removing it from mobile application download platforms.
Judges in both cases said in rulings that the chances of proving in court that Trump overstepped his authority were good.
They also equated TikTok to films, photographs, and news wires with legal protections.
Washington vs Beijing
The Friday deadline was for ByteDance to come up with a deal to sell TikTok operations in the US.
“The committee is engaging with ByteDance to complete the divestment and other steps necessary to resolve the national security risks arising from the transaction, consistent with the president’s August 14 order,” said a spokesperson for the Treasury, which oversees the committee.
TikTok declined to comment.
A tentative deal has been unveiled that would make Silicon Valley giant Oracle the technology partner for TikTok and a stakeholder in a new entity to be known as TikTok Global.
Oracle would manage data security through its cloud servers, while TikTok would retain control of its algorithms and technology, according to details of the proposed deal shared earlier this year.
However, Trump has said he would not approve a deal with any Chinese ownership or control.
China, meanwhile, has tightened control of technology exports in a move that promised to complicate any deal for TikTok to sell US assets.
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