Trump sets deadline, insists on compensation to US govt in TikTok sale
President Donald Trump said he’s told people involved in the sale of the U.S. assets of ByteDance Ltd.’s TikTok that the deal must be struck by Sept. 15 and the federal government must be “well compensated,” or the service will be shut down.
“I told them they have until Sept. 15 to make a deal — after that we close it up in this country,” Trump told reporters before boarding Air Force One for a trip to Kenosha, Wisconsin. “I said the United States has to be compensated, well compensated.”
It remains unclear how the U.S. would collect compensation from the sale of TikTok. The president said last month that the popular video streaming app’s U.S. operation had to be sold because its Chinese ownership makes it a national security threat.