08-07-2020 , 01:03 PM
Quote:Donald Trump has issued a pair of executive orders that would ban any US transactions with the Chinese companies that own TikTok and WeChat, saying the US must take “aggressive action” in the interest of national security.( Continue Reading Article ).
Executive orders issued late on Thursday would prohibit “any transaction by any person, or with respect to any property, subject to the jurisdiction of the United States,” with the companies, beginning in 45 days.
The video-sharing app has come under fire from US lawmakers and the Trump administration over national security concerns. TikTok’s parent company ByteDance faces a deadline of 15 September either to sell its US operations to Microsoft or another US firm or face an outright ban.
Sources previously told Reuters that ByteDance executives valued all of TikTok at more than $50bn.
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