TikTok Parent Plots Southeast Asia Expansion, As Setbacks Continue In US

Trump says he won't extend deadline for US TikTok sale

Shortly after this time, the President issued two Executive Orders, both of which urged ByteDance (TikTok's parent company) to sell off United States assets.

In a statement, Treasury Department spokeswoman Monica Crowley said that the department 'is focused exclusively at this time on discussions associated with the sale of TikTok in accordance with the August 14 divestiture order signed by the President'.

United States President Donald Trump said on Thursday he does not plan to extend the deadline for ByteDance to sell TikTok's usa business, with the process still mired in uncertainty.

Microsoft Corp and Oracle Corp are among the suitors for TikTok's USA assets. It's September 15th. There'll be no extension of the TikTok deadline.

When asked by reporters on Friday about TikTok and the impending ban, Chinese foreign ministry spokesman Zhao Lijian said that Trump was abusing the concept of national security to oppress foreign companies.

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The discussions, which have reportedly been underway for months, are more urgent now that President Trump has put a strict deadline on a TikTok sale.

That means the Trump administration could order American companies like Google and Apple to stop carrying the app, but couldn't stop American teens from finding workarounds to access the website or view the content.Apple and Google didn't immediately respond to a request for comment.

Despite TikTok's larger user base and value as one of the most popular social media apps among Gen Z, there are now several issues that may lower its attractiveness for buyers.

When confronted with a ban in India, TikTok chose to shut down voluntarily. TikTok's Chinese owner, may need more time to negotiate with suitors after new regulations from Beijing complicated the deal. "Forced transactions by the government", Zhao said, "violates market principles and global rules, and reveals the irony when the US claims to be a champion of market economy and fair competition". But U.S. officials have expressed concern that information on those who use the platform could be passed to Beijing.

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