The Trump administration isn’t enforcing its own deadline for ByteDance to sell Tiktok’s U.S. operations.
Bloomberg reports that an extension isn’t expected and that the current deadline will be overlooked as discussions continue between the U.S. government and TikTok.
The most recent deadline was December 4th, which was an extension of the deadline for November 28th. TikTok has received numerous deadline extensions, but won’t be receiving another one as talks continue.
ByteDance has been in talks with Oracle and Walmart for months to finalize a deal that would shift TikTok’s U.S. assets into a new entity.
U.S. President Donald Trump has alleged that the social media platform poses a national security risk because the Chinese government could access data on American users. TikTok has repeatedly denied this claim, but wants to move forward with the deal to satisfy concerns.
Federal courts have blocked several legal challenges that have proposed bans against the app in some form, including transaction curbs.
Another aspect of the deal depends on whether the Chinese government will approve it, as state media has called Trump’s order “bullying.”
Further, it’s worth noting that as a new administration looms, it’s possible that the deal may never actually be finalized depending on the new government’s priorities. The ongoing legal cases could lapse once President-elect Joe Biden takes office.
Bloomberg notes that it will depend on whether Biden chooses to enforce the Trump ban and defend the previous administration’s orders.
Source: Bloomberg
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