Trump issues order to block U.S. transactions with TikTok parent company ByteDance

Credit: Published on August 7, 2020
The new order bans TikTok under the National Emergencies Act and is set to take effect in 45 days.

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Published on August 7, 2020 -  01:14
Trump Signs Executive Order That Will Effectively Ban TikTok in the US
Trump Signs Executive Order That Will Effectively Ban TikTok in the US China-based company ByteDance is the parent company of TikTok. The order, barring U.S. companies from doing business with ByteDance, is set to go into effect in 45 days if TikTok is not sold to an American company. Microsoft announced earlier this week that it was negotiating a purchase of the popular video sharing app, a deal with a potential worth of $30 billion. President Donald Trump's executive order refers to the risk posed by the China- owned app as a "national emergency." The Trump administration has accused ByteDance of using TikTok to acquire "vast swaths" of personal information from U.S. users. Trump's order says that acquisition of this information "threatens to allow" the government of China to track U.S. users. TikTok responded to the move, saying it was "shocked." TikTok Statement, via NBC News

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