TikTok has run out of time to sell its US operations and President Donald Trump has ruled out the possibility of an extension. On Thursday, September 10, Trump told a group of reporters (via CNN) before boarding Air Force One that a ban on U.S. buyers by TikTok would be banned before the upcoming deadline.
“We will either close TikTok in this country for security reasons or it will be sold. There will be no extension of the TikTok deadline, “said Trump.
TikTok’s deadline itself has remained an open question due to a series of conflicting announcements and statements by the Trump administration. The schedule was further complicated by a subsequent Trump appointment on August 1
We asked TikTok for a comment and will update the story as soon as we hear anything.
TikTok’s efforts to hand over its operations in the US and several other countries have continued to face roadblocks in recent weeks. Most recently, negotiations on the takeover of TikTok’s US operations are said to have reached another critical point as the bidders are looking for ways to comply with China’s updated export regulations.
Earlier this week, a Bloomberg report claimed that there was little chance TikTok would complete a regulatory review and approve an agreement with one of the potential parties – Microsoft and Oracle – before the deadline.
Last month, TikTok filed a lawsuit against the Trump administration accusing it of breaching due process and failed to provide evidence to support its claims that the video app posed a national security threat.
“The [Trump] The administration ignored our extensive efforts to address their concerns, which we have fully committed in good faith, ”TikTok, owned by China-based startup Bytedance, said in a statement at the time. “We do not sue the government lightly, but feel we have no choice but to take action to protect our rights and the rights of our community and our employees.”