TikTok granted one more week to sell American assets or face US ‘ban’

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The future of TikTok, the Chinese social media platform known for video sharing, has hung in the balance this year amid threats of a US ban. Mr Trump has ordered ByteDance to sell TikTok’s US assets to a US company.

The deadline to do so was set to expire on Friday this week, but now Reuters claims ByteDance has been granted seven more days to finalise an agreement.

As such, the deadline is now December 4. The company has been in talks with US retail giant Walmart, which has teamed up with technology firm Oracle, to discuss the asset sale.

It is understood the extension has been granted by the US Committee on Foreign Investment.

The extension follows another, even longer one that was granted earlier this month when ByteDance was granted a further 15 days.

President Trump’s pressure over the social media company stems from security concerns the administration has – though the company denies it poses a threat.

However, according to CNN the president’s order requiring ByteDance to sell TikTok’s assets – originally by November 12 – did not specify what would happen if the app failed to be sold by the deadline.

READ: TikTok ban: Trump administration launches into row with judges over executive order

The US Commerce Department tried to ban downloads of the app in September and also said internet companies would be prevented from working with the app.

Both of these orders were temporarily halted by federal judges following legal action by TikTok.

Earlier in the year, software giant Microsoft was also in talks to acquire TikTok’s US business – though this bid ultimately fell through.

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Microsoft said in a statement: “ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft.

“We are confident our proposal would have been good for TikTok’s users, while protecting national security interests.”

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