U.S. not extending TikTok divestiture deadline, but talks will continue
- 05 December 2020
The Trump administration on Friday opted not to grant ByteDance a new extension of an order requiring the Chinese company to divest TikTok’s U.S. assets, but talks will continue over the short video-sharing app’s fate, two sources briefed on the matter said, APA reports citing Reuters.
A Treasury Department representative said late on Friday 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.”
Last week, CFIUS granted TikTok parent ByteDance a one-week extension until Friday over the order to shed TikTok’s U.S. assets.
President Donald Trump’s August order gave the Justice Department the power to enforce the divestiture order once the deadline expired, but it is unclear when or how the government may seek to compel divestiture.
Trump was said to have personally made the decision not to approve any additional extensions at a meeting of senior U.S. officials, according to a person briefed on the meeting. The government had previously issued a 15-day and seven-day extension of the initial 90-day deadline, which was Nov. 12, in Trump’s order.