ALL QUIET ON THE TIKTOK FRONT
The latest deadline for ByteDance to sell the widely popular video-sharing app TikTok passed on Friday without a final deal being reached or the Trump administration again extending the deadline.
The deadline had already been delayed twice last month, and uneventfully passed again last week without a clear path forward for President Trump’s executive order from August calling for the Beijing-owned ByteDance to sell the app or have it banned in the U.S.
A Treasury Department spokesperson said in a statement late Friday that the Committee on Foreign Investment in the United States (CFIUS) “is engaging with ByteDance to complete the divestment and other steps necessary to resolve the national security risks arising from the transaction, consistent with the President’s August 14 Order.”
A person familiar with the matter told CNN the government will not enforce the order requiring the sale but will not further extend the deadline.
Trump tentatively approved a deal in September that would establish a U.S.-headquartered TikTok Global with partial U.S.-based owners, Oracle and Walmart.