US will ban Tiktok on September 15 unless American company buys it, says Donald Trump

Credit: Mid-Day- Published on August 4, 2020
US President Donald Trump on Monday said the popular Chinese app, TikTok, would be banned in the country beginning September 15, unless it is bought by an American company and asserted that a substantial amount of the buyout deal should go to the treasury. Technology giant Microsoft is in talks with TikTok's parent company...
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Video credit: Wibbitz Studio
Published on August 6, 2020 -  01:01
Microsoft Could Shell out as Much as $30 Billion for TikTok
Microsoft Could Shell out as Much as $30 Billion for TikTok CNBC reports that the deal between TikTok and Microsoft could be completed within three weeks, well ahead of the Sept. 15 deadline. Transferring TikTok's code from China to the U.S. is a massive undertaking. Microsoft has predicted it could complete the task within a year. President Donald Trump's Treasury Secretary, Steve Mnuchin, is reportedly "deeply involved" in the acquisition process. Trump has gone as far as to suggest that the U.S. Treasury Department should receive a cut of the deal. The legality or possibility of Trump's suggestion is unclear. Owned by China-based parent company ByteDance, TikTok has been accused by the Trump administration of collecting the data of American users. Trump has threatened to ban the popular app if a deal is not reached with an American company by Sept. 15.

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