TikTok rises above Trump order deadline | Financial

For that forced deal, the deadline would actually end on Thursday. But amid all the negotiations, lawsuits, and Joe Biden’s election as president, the status of the deadline has become unclear. In any case, according to The Wall Street Journal, the US Department of Commerce does not intend to enforce the decree and put the still contradictory TikTok on black. The business newspaper writes that the ministry first wants to await the further course of the legal process.

The app with over 100 million US users has been under heavy fire in the US for some time now. The US government also tried to impose restrictions on the use of TikTok in the country. In practice, that amounted to shutting down the app, which is why a US federal judge dismissed the restrictions.

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According to the Trump administration, TikTok stores too much data, which ends up with the Chinese government via the Chinese parent company ByteDance. The president therefore demanded that TikTok’s US operations be sold to an American party. In September, he agreed to a deal between ByteDance, Oracle and Walmart that would transfer TikTok’s US operations into a new company.

Meanwhile, Trump continues to hunt for Chinese companies that he sees as a threat to the US. On Thursday, he signed a decree prohibiting US companies from investing in Chinese companies owned or controlled by the People’s Republic’s military. China is increasingly turning to American capital for the modernization of its army and intelligence services, said the president, who wants to put a stop to this.

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