Trump Signs New Executive Order: Gives TikTok 90 Days To Find An American Buyer

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Image source: REUTERS

US president Donald J. Trump has issued a new executive order on Friday. The new executive order reversed the 45 days ultimatum given to TikTok’s parent company – ByteDance, to sell its US assets.

The executive order, which was signed on Friday, gives ByteDance 90 days to find a buyer for its US assets.

The US government stated that they have “credible evidence” to believe that the Chinese owned company could take actions that threatens to impair the US national security.

NY times reported the Treasury Secretary Steven Mnuchin saying in a statement that the government’s Committee on Foreign Investment in the United States, which examines national security threats, had recommended the action after an exhaustive review “in order to protect U.S. users from exploitation of their personal data.

This new order comes a week after President Trump signed an executive order restricting “any transaction by any person, or with respect to any property, subject to the jurisdiction of the United States”, with TikTok, or its parent company.

In response to last week’s executive order, ByteDance have threatened to take legal actions against the US government, claiming it is not fairly treated.

President Trump, earlier, was reported saying that he would allow Microsoft, or any other American company to buy TikTok’s American assets. This was three days before issuing the ban last week.

New York times also reported that Mr. Trump had initially proposed shutting down the app in the United States, but aides informed him that a ban could both prompt an intense legal battle and hurt his popularity with the 100 million Americans who use the app, most of them part of the youngest voting demographic.

In response to Friday’s executive order, TikTok released a statement on Saturday morning saying, “We’re committed to continuing to bring joy to families and meaningful careers to those who create on our platform for many years to come.”

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