Trump on Monday set September 15 as the deadline for TikTok to find a US buyer, failing which he said he will shut down the app in the country. In an unusual declaration, Trump also said any deal would have to include a “substantial amount of money” coming to the US Treasury.
“Right now they don’t have any rights unless we give it to them. So if we’re going to give them the rights, then … it has to come into this country,” Trump said. “It’s a great asset, but it’s not a great asset in the United States unless they have approval in the United States.”
Asked in a subsequent press briefing whether the money for the Treasury should come from Microsoft — which is pursuing a purchase of TikTok — or TikTok’s Chinese parent ByteDance, Trump said the US should get a significant portion of the deal “either way.”
“[Microsoft] is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury,” the company said, adding that it will “move quickly” to talk with ByteDance “in a matter of weeks.”
“In light of the current situation, ByteDance has been evaluating the possibility of establishing TikTok’s headquarters outside of the US, to better serve our global users,” the company said.
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Article URL : https://www.cnn.com/2020/08/03/tech/tiktok-acquisition-trump-treasury/index.html