He has threatened to ban TikTok in the United States as early as Sept. 20 if ByteDance does not comply. ByteDance has submitted a plan to U.S. officials for it to keep a majority stake in TikTok’s global business and create headquarters for TikTok in the United States, Reuters reported on Tuesday. The proposal is being reviewed by the Committee on Foreign Investment in the United States (CFIUS), a U.S. government panel chaired by the U.S. Treasury Department. “Conceptually I can tell you I don’t like that (ByteDance keeping a majority ownership of TikTok). ByteDance, the White House and the Treasury did not respond to requests for comment.

Source: Standard Digital September 17, 2020 06:56 UTC