FILE PHOTO: TikTok logos are seen on smartphones in front of a displayed ByteDance logo in this illustration taken November 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo

THE NEUTRAL ZONE

TikTok, a Chinese social media platform, may soon be bought by a United States company. The main company for consideration of purchasing the app? Microsoft. President Trump made a statement on Monday that if the deal happens between Microsoft and TikTok, then the United States treasury must receive a portion of the sale price due to the regulatory approval needed. The statement from President Trump sparked debate due to the current state of trade relations between the U.S and China but has not been confirmed by the White House.  

Along with the president’s recent statement, he also mentioned a deadline for the purchase, or he will ban TikTok due to national security reasons. Chinese state media called the United States a “rogue country” and said if the purchase of the app happened, it is “theft” for the United States getting their hands on Chinese technology.  

Before the potential buyout rumors, President Trump threatened to shut down the Chinese app in the U.S. completely. Many U.S influencers worried as they have endorsements and make money through the app. Bloomberg reported that many who are scared of the ban are going to Instagram, a Facebook company, to continue there social presence. For now, everyone remaining on TikTok seems to be holding their breath for the buyout of the company or the ban on it.

MEDIA PERSPECTIVE

Trump: U.S. should get ‘substantial portion’ of TikTok operations sale price – Reuters – 8/4/2020
U.S. President Donald Trump said Monday the U.S. government should get a “substantial portion” of the sales price of the U.S. operations of popular short-video app TikTok and warned he will ban the service in the United States on Sept. 15 without a sale.

Trump says TikTok sale can go through but only if the US gets a cut – CNN – 8/4/2020
Trump on Monday set September 15 as the deadline for TikTok to find a US buyer, failing which he said he will shut down the app in the country. In an unusual declaration, Trump also said any deal would have to include a “substantial amount of money” coming to the US Treasury.

Trump Says U.S. Should Get Slice of TikTok Sale Price – Wall Street Journal – 8/3/2020
President Trump said he was ready to approve a purchase of the U.S. operations of the Chinese video-sharing app TikTok, but only if the government receives “a lot of money” in exchange—an assertion of presidential power that appeared to lack precedent.

Trump administration gives TikTok 45 days to sell to Microsoft or leave US [Updated] – Ars Technica – 8/3/2020
After weeks of rumor and speculation, the Trump administration this weekend gave TikTok’s parent company, Beijing-based ByteDance, 45 days to sell off the social media sensation or else stop operating in the United States—and Microsoft looks to be the buyer.

INFLUENCER PERSPECTIVE

There's depth. And then there's in-depth.

To get beyond the news and receive actionable intelligence about this topic or thousands more, simply enter your email address below.

You May Also Like

China increases dominance on the world stage as thousands of companies sue U.S. over tariffs

Tesla, Coca-Cola, Disney, and Ford are among the 3,500 companies suing the U.S.

Twitter, Facebook receive backlash after restricting supposed “smoking gun” New York Post article

Republican lawmakers intend to subpoena Twitter CEO Jack Dorsey

Recently acquired Joe Rogan podcast creates controversy among Spotify employees

The partnership has sparked a debate around censorship and misinformation