Jim Watson/AFP via Getty Images; Samantha Lee/Business Insider
- Trump issued a new executive order Friday seeking to force ByteDance to sell popular viral video app TikTok.
- Trump's order aims to retroactively invalidate ByteDance's purchase of Musical.ly, the app that eventually became TikTok, following a review by the federal agency in charge of overseeing foreign investments that could pose national security risks.
- The agency opened its probe into the deal last November, and US Treasury Secretary Steve Mnuchin said in a statement on Friday that the agency completed an "exhaustive review" and "unanimously recommended" that Trump unwind the deal.
- The move comes on the heels of an executive order Trump issued last week that also targeted TikTok by banning American companies from doing business with its Chinese-based parent ByteDance.
- This story is developing.
- Visit Business Insider's homepage for more stories.
NOW WATCH: Here's what it's like to travel during the coronavirus outbreak
See Also:
- Here's everything we know about TikTok's future in the US — and everything we don't
- TikTok has entertained offers from potential buyers like Microsoft and Twitter to appease Trump while ByteDance has been preparing to fight back
- Trump's push to ban TikTok in the US, explained in 30 seconds
from Business Insider https://ift.tt/2PVTfzz
No comments:
Post a Comment