Trump Bans Transactions With TikTok’s Chinese Owner ByteDance
Donald Trump has issued an executive order banning transactions with TikTok parent company, ByteDance in 45 days.
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United States President Donald Trump has issued an executive order banning US transactions with TikTok’s parent company ByteDance in 45 days.
Addressing the “threat” posed by TikTok, Trump’s order said beginning in 45 days, any transaction subject to US jurisdiction with ByteDance is prohibited, reported Reuters.
The video-sharing platform has come under fire from Trump’s administration over national security issues because the app’s technology is owned by ByteDance, a Chinese company.
This comes amid reports that Microsoft is planning to buy the TikTok operations in North America, Australia and New Zealand for a "reported figure of $50 billion".
TikTok has nearly 80 million monthly active users in the US. Many users have grown to rely on the platform for building a career on social media and earn a living.
The firm's US job growth has already nearly tripled this year, surging from almost 500 employees on January 1 to just under 1,400.
Last month, India's Ministry of Electronics and Information Technology (MeitY) directed the 59 banned Chinese apps to strictly adhere to the orders or face serious action in case of violation.
The government banned 59 Chinese apps including TikTok, WeChat and UC Browser and Xiaomi's Mi Community in June over national security concerns amid the border tussle at Ladakh which also led to the death of 20 Indian soldiers in the Galwan Valley clash with Chinese PLA troops.
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