The order signed by Trump on Aug 14 lays out a 90-day deadline for a possible sale of TikTok to a US buyer, which could be extended for as much as 30 days at the discretion of CFIUS. ByteDance, its affiliates, and Chinese shareholders were also ordered to divest and destroy any data obtained or derived from TikTok or Musical.ly app users in the US. — Bloomberg
US president Donald Trump on Aug 14 ordered the Chinese owner of the popular music video app TikTok to sell its US assets, citing national security grounds and delivering the latest salvo in his standoff with Beijing.
Trump’s decision came after an investigation by the Committee on Foreign Investment in the US, or CFIUS, which reviews proposed acquisitions of American businesses by overseas investors for national security concerns. The unexpected order was tied to the CFIUS’ timeline, according to people familiar with the decision.
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