Trump Orders China's ByteDance To Divest Interests In TikTok's US Operations

WASHINGTON (UrduPoint News / Sputnik - 15th August, 2020) US President Donald Trump has issued an executive order requiring China's ByteDance to divest interests in TikTok's US operations within 90 days.

"In order to effectuate this order, not later than 90 days after the date of this order, unless such date is extended for a period not to exceed 30 days, on such written conditions as the Committee on Foreign Investment in the United States (CFIUS) may impose, ByteDance, its subsidiaries, affiliates, and Chinese shareholders, shall divest all interests and rights in: any tangible or intangible assets or property, wherever located, used to enable or support ByteDance's operation of the TikTok application in the United States, as determined by the Committee," Trump said in the order on Friday.

President Donald Trump has threatened to ban TikTok and WeChat by September 15 if they are not sold to a US company, triggering a lawsuit from TikTok owner ByteDance and sparking further diplomatic tensions with China.

Tech giant microsoft has emerged as the main bidder for TikTok while Twitter has also held talks with ByteDance.