US President Donald Trump has said that he will act to ban TikTok as soon as on Saturday, amidst reports of American technology giant Microsoft being in advanced talks to acquire the popular Chinese-owned video app. TikTok users across the U.S. began livestreaming and posting videos in tribute to what they feared was the end of TikTok, the short-form video app they've come to love and depend on. Reuters is reporting that the owner of the app, China's ByteDance, has allegedly offered to divest the entire usa operations of TikTok.
China's ByteDance has agreed to divest its TikTok operations in the U.S., according to a report in Reuters.
The app is extremely popular in both the US and around the world.
ByteDance, Microsoft and the U.S. Treasury Department, which chairs the government panel that has been reviewing ByteDance's ownership of TikTok, declined to comment.
"We're looking at TikTok".
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However, similar denials have not been enough to stop another Chinese tech company, Huawei, from being banned in the USA - with the White House subsequently pressuring allies to follow suit (GCSB Minister Andrew Little says our spy agency's decision to ban Huawei was made independently). "We may be doing some other things and also alternatives for TikTok". "I applaud the Trump administration for taking this critical step, but we must do more than simply remove ByteDance from the equation", Senator Marco Rubio said. Or is there another reason why the president wants to ban TikTok?
As TikTok grew more popular, USA officials grew more concerned about the potential for the Chinese government to use the app to gain data on US citizens.
The company has denied it gives data from the app to the Chinese government. The company hired a U.S. CEO to distance itself from its Chinese ownership.
ByteDance has also fielded acquisition interest in TikTok from other companies and investment firms, Reuters has reported.
According to informants, ByteDance values TikTok at more than $50 billion and insists on retaining a certain share of the enterprise.
"TikTok has become the latest target, but we are not the enemy".
Security fears related to TikTok are due in part to a 2017 Chinese national security law that requires all Chinese-owned companies to comply with requests for information from the ruling Communist party.