The popular musical app has been given a deadline to sell the app's US operations by September 15 or there will be a ban on TikTok in America.
Among many Chinese apps that are facing scrutiny, TikTok, which is one of the most popular apps around the world has also joined the list. US President Donald Trump gave the Chinese app a notice of six weeks to sell its operations in the US to an American company. He also warned about a ban to be imposed on the app considering the security of the citizens in case the app's ownership wasn't transferred.
TikTok is a video creation app that allows users to make 15-second videos. The popularity of the app increased over time with over 20 million monthly users in the US. The app is legally bound to share data with authorities in Beijing if they demand it and it has been under formal investigation on USA's national security grounds because it collects large amounts of personal data on all its users.
The President on Monday made an announcement that the app will be banned if it is not sold to an American company giving it a deadline until September 15. Microsoft, the technology giant is in talks with ByteDance, the parent company that owns TikTok for its ownership rights in America. Although the app is being negotiated for a 30 percent ownership, Trump, however, is in favour of 100 percent purchase.
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Pres. Trump set September 15 as the deadline for TikTok to find a US buyer, or else he'll shut down the app in the country. In an unusual declaration, Trump also said any deal would have to include a "substantial amount of money" coming to the US Treasury. https://t.co/pACfYwmpD3— CNN (@CNN) August 3, 2020
#BREAKING: President Trump says TikTok must be bought by US company and pay cut of selling price into US Treasury: "Right now they don't have any rights unless we give it to them." pic.twitter.com/VJ7gC1u6nc— The Hill (@thehill) August 3, 2020