The Trump administration has once again extended ByteDance’s deadline for the selling of TikTok’s video sharing site in the US, Reuters announced.
According to a court filing, the Committee on Foreign Investment in the United States (CFIUS) has granted China-based ByteDance until December 4th to either sell or spin out its US firm. “CFIUS reportedly granted the extension it recently received “to allow time to review a revised application.
In August, President Trump said TikTok and its parent company posed a national security danger to the US and released an initial order compelling TikTok to sell its US company. Trump’s order would have blocked all of ByteDance’s US transfers.
The US Commerce Department issued an order in September to block TikTok downloads in the US. The president then said he had accepted an arrangement “in concept” with Oracle and Walmart that called for the creation of TikTok Global, a new US-based entity.
However the agreement has yet to obtain formal clearance, and TikTok said earlier this month that it had received “no substantive feedback” for some time from the Trump administration. On 13 November, the government then released a notice setting a new deadline for the 27 November contract.
The nation, however, is also constrained by an order imposed on October 30th by a federal court in Pennsylvania. An unpublished rule was released by the Commerce Department stating the government complies with the provisions of the decision of that court. Its prohibition of TikTok transactions has been enjoined and will not come into practice until more regulatory changes have been made.