Thursday, 12 November 2020

TikTok asks Court to intervene as Trump Order Loom

 TikTok asks Court to intervene as Trump Order Loom.


The popular video-sharing app TikTok, its future in limbo since President Donald Trump tried to shut it down earlier this fall, is asking a Federal Court to intervene.


TikTok’s Chinese owner, ByteDance, has until Thursday to sell off its U.S. operations under an executive order that Trump signed in Aug.


Trump in Sept gave his tentative blessing to a ByteDance proposal meant to resolve U.S. national security concerns by placing TikTok under the oversight of American companies Oracle & Walmart, each of which would also have a financial stake in the company. But TikTok said this week it’s received no clarity from the U.S. Govt about whether its proposals have been accepted.


The deal has been under a national-security review by the interagency Committee on Foreign Investment in the United States, or CFIUS, which is led by the Treasury Department. The Treasury Department did not return emailed requests for comment this week.

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