The US President has recently announced that the deadline for ByteDance is set – to sell its widely held short-video app, TikTok’s US assets. The US officials have concerns that user data and information are being passed on to the Chinese government. As mentioned by Trump in a statement, “It’ll either be closed up, or they’ll sell it. There will be no extension of the TikTok deadline.”
However, TikTok did not respond to the comment as of now. ByteDance has been looking to decide on a buyer in order to finalize an agreement by mid-September. It would also help the company to comply with the Trump administration’s demand to liquidate TikTok assets.