PRESIDENT Donald Trump has ordered the Chinese-owned parent company of TikTok to sell off operations in the US within 90 days over a “national security threat.”
In an executive order issued Friday, the president said he believes there is “credible evidence” that the company – ByteDance – “might take action that threatens to impair the national security of the United States.”
The move comes after the company acquired social media app Musical.ly, which Trump cites as a reason for the executive order.
The order specifically states that ByteDance must destroy all data obtained from US TikTok users and inform the Committee on Foreign Investment in the US of its progress afterwards.
The move comes after Trump vowed to ban TikTok from operating in the US last month. The new 90 day period to divest gives ByteDance some extra time to work out a deal in the US.
The company released a statement after news of Trump’s order broke, saying they are dedicated to keeping TikTok available in the US.
“As we’ve said previously, TikTok is loved by 100million Americans because it is home for entertainment, self-expression and connection.”
“We’re committed to continuing to bring joy to families and meaningful careers to those who create on our platform for many years to come.”
Microsoft has confirmed that is has held talks with ByteDance about buying TikTok in the US, Canada, Australia and New Zealand, according to CNBC.
The deal is estimated to fall between $10billion and $30billion.
