If not sold by mid-September, TikTok will be ‘out of business’ in USA: Trump

President Donald Trump said Monday that the Chinese-owned popular video-sharing app TikTok will remain “out of business” in the United States unless it is sold to a US company by September 15. News from AFP.

Trump told reporters, “I’ve set a September 15 date for the app to go on sale. Otherwise, it will not be able to do business in the United States.

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Trump said that Microsoft was in talks to buy TikTok, which has as many as one billion worldwide users who make quirky 60-second videos with its smartphone app.

But US officials say the app constitutes a national security risk because it could share millions of Americans’ personal data with Chinese intelligence.

Trump gave the company’s Chinese parent ByteDance until mid-September to strike a deal. If Microsoft or any other company is not able to buy the app, it will be closed after September 15.

But Trump also threw a surprise new condition in any deal, saying the sale of TikTok’s US business would have to result in a significant payout to the US Treasury for initiating it.

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