The US government has granted Chinese firm ByteDance an extra 7 days to complete the sale of its video sharing social media platform, TikTok, to a US company.
It’s been a while since the US President Donald Trump administration is squeezing Chinese products from the US market citing security concerns. From these Chinese products, Huawei and tech giant ByteDance application TikTok were the one suffered most.
The ByteDance developed application TikTok was given a deadline to sell all its US based operation to the US based company or get ready to shut down their services in the region. However, after announcing the verdict, the Trump administration went into silent mode pertaining to this matter.
Afterward, TikTok filed a petition in the US court and requested a review of actions by CFIUS, as a result, the deadline for the ban on TikTok application was extended till the 12th of November.
Now, it’s for the third time that US government delayed the ban which is till the 4th of December 2020. According to the Treasury Department representative highlighted that they have postponed the ban so that it can evaluate submission by the company to the Committee on Foreign Investment (CFIUS).
Meanwhile, this evaluation process is not on the plea made by the Chinese application. The Treasury Department spokesperson clearly expressed that the review is separate from the various legal hurdles TikTok and some influencers on the short video sharing portal have elevated in order to keep proposed bans from going into effect.
With the change in the US administration as Trump is getting out and Joe Biden is coming in, things are shifting a lot. However, the TikTok future for US is indistinct for now but may be it will revert back to its original form under Biden administration.