Trump just issued an executive order barring US companies from doing business with TikTok parent company ByteDance, giving it 45 days to sell the app (MSFT)

AP Photo/Alex Brandon

• Trump issued an executive order Thursday evening prohibiting US individuals and companies from making "any transactions" with TikTok's parent company ByteDance.
• The order, which is set to go into effect in 45 days, claims TikTok "continues to threaten the national security, foreign policy, and economy of the United States."
• Trump previously said he would ban the app from operating within the US entirely, thought it's unclear what legal authority he has to do that.
• Microsoft has been in talks with ByteDance to acquire the app, and Trump said this week that he would require any sale to an American company to include a "very big" cut going to the US government.
• Trump also issued a similar order Thursday concerning transactions with WeChat, which is owned by Chinse internet giant Tencent. 
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President Donald Trump issued an executive order Thursday that will ban US individuals and companies from doing business with TikTok, which is owned by Chinese-based firm ByteDance.

The order, which is set to go into effect 45 days from Thursday, prohibits "any transaction by any person, or with respect to any property, subject to the jurisdiction of the United States," meaning it applies to both businesses and individuals.

See the rest of the story at Business Insider

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See Also:

• TikTok doubles down in Europe with new $500 million Irish data center as it faces being hounded out of the US
• Buying TikTok's US operations could reportedly cost Microsoft anywhere from $10 billion to $30 billion
• No, Donald Trump can't 'ban' TikTok

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