Donald Trump refuses to extend deadline for TikTok sale in US
With only four days to September 15—the deadline for China’s Bytdance to sell TikTok, the short video platform’s fate in the United States hangs by a thread. The US President has now refused to extend the deadline for Bytedance to sell the US operations of TikTok to an American company. Although there were too many takers, Bytedance could not reach a conclusion with any of the companies.
"There will be no extension of the TikTok deadline. We’ll either close up TikTok in this country for security reasons, or it will be sold,” Trump was quoted as saying by reporters. Trump had granted 90 days to Bytedance to sell the US arm of the short video making platform but that doesn’t seem to be happening anytime soon
Bytedance despite having many potential buyers including Microsoft, Oracle, and Walmart could not finalize the deal due to China's newly introduced export control rules that would require China’s permission for TikTok to sell its algorithm.