Last week, CFIUS granted TikTok parent ByteDance a one-week extension until Friday over the order to shed TikTok's US 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. The Trump administration contends TikTok poses national security concerns as the personal data of US users could be obtained by China's government. In September, TikTok announced it had a preliminary deal for Walmart and Oracle to take stakes in a new company to oversee US operations. The Trump administration has been stymied in its efforts to restrict TikTok in the United States.

Source: Dhaka Tribune December 05, 2020 03:56 UTC