NEW YORK/WASHINGTON (US) – Sources said President Donald Trump has agreed to give ByteDance of China as many as 45 days to discuss the sale of its popular application TikTok to Microsoft Corp.
US officials have been concerned about the national risk posed by the application because of the personal data it handles. On Friday, Trump said he was planning to ban the app in the US.
After a discussion between Trump and Microsoft CEO Satya Nadella, firm said on Sunday that it would continue talks with ByteDance to buy TikTok and a deal would be reached by Sep. 15.
Sources said the president changed his mind from banning the app following pressure from advisers and many Republicans who said that it would alienate many young ahead of the poll. Many prominent Republicans also issued statements urging the president to support the sale of TikTok to Microsoft.
“A win-win in the making,” Republican Senator Lindsey Graham tweeted.
The Committee on Foreign Investment in the United States (CFIUS) will supervise the deal between ByteDance and Microsoft. The US body has the right to block any agreement.
“Microsoft fully appreciates the importance of addressing the President’s concerns. It 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,” Microsoft said.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field
