Late on Friday, the Trump Administration had granted the Chinese tech conglomerate ByteDance another fifteen days to divest its popular small video-sharing app TikTok’s US operation. In fact, the departing US President Donald Trump had issued an executive order on August 14 that had directed the Chinese company to divest its TikTok’s US operation within 90 days.
ByteDance receives a 15-day deadline extension to divest TikTok’s US operation
On top of that, in a regulatory filing revealed late on Friday, the Beijing-based Chinese tech behemoth ByteDance’s TikTok said that the popular short-video sharing platform had until November 27 to reach a divestiture agreement.
In tandem, latest extension of deadline to divest TikTok’s US operation came against a chaotic backdrop as Trump Administration had been forcing ByteDance to reach a divestiture accord with Walmart Inc. alongside Oracle Corp, which in effect would transform TikTok’s US operation an entirely new entity based on the United States.
Aside from the regulatory filing of TikTok that had first disclosed the extension, US Treasury Department said in a separate statement late on the day, “ The Committee of Foreign Investment in the United States had granted a fifteen-day extension to provide the parties and the committee additional time to resolve this case in a manner that complies with the Order.
” Nonetheless, earlier this week, ByteDance had lodged a petition in the US Appeals Court for the District of Columbia in a bid to challenge Trump Administration’s divestiture order for its TikTok’s US operation.
If truth is to be told, following a crippling Trump Administration ban on China’s Huawei, the world’s second-largest smartphone vendor, the legal actions against ByteDance over potential national security issue had been the latest among a string of US moves targeted at downsizing China’s influence into the global tech industry.
Yesterday, the Trump Administration had ordered a sweeping ban on US investments into 31 Chinese companies over allegations of potential Chinese military tie-up.