Trump would force Chinese company to sell TikTok in the US 1:18
(. Business) – People working on the TikTok issue within the Donald Trump administration expect the president to sign an order to force the Chinese company ByteDance to sell the company’s US operations, its popular short-form video app, according to one person. familiar with the matter.
The move aims to resolve concerns from policy makers that the foreign-owned TikTok may be a national security risk.
However, this Friday President Donald Trump assured that he will ban the application. Speaking on board the Air Force One plane, Trump said, “As for TikTok, we are going to ban them in the United States.” The president added that he would take action this Saturday and firmly rejected the indirect agreement that involves Microsoft buying TikTok.
The United States government has been conducting a TikTok national security review and is preparing to make a policy recommendation to Trump, Treasury Secretary Steven Mnuchin told reporters this week at the White House.
ByteDance has been considering changes to its corporate structure and has reportedly already studied the possibility of selling a majority stake in TikTok.
Microsoft is in talks to acquire TikTok, according to The New York Times, citing a person with knowledge of the discussions. Microsoft declined to comment to . Business.
Critics of TikTok fear that the data it collects about its US users may end up in the hands of the Chinese government, although TikTok has said it stores its data outside of China and that it would resist any attempt by Beijing to confiscate the information.
Cybersecurity experts have said that TikTok’s potential risk to national security is largely theoretical and that there is no evidence to suggest that TikTok user data has been compromised by Chinese intelligence.
.’s Zachary Cohen contributed to this report.