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USA extends deadline for TikTok sale to Nov 27

A notice filed by TikTok owner ByteDance in federal court showed that authorities had extended the deadline initially set for November 12 to November 27.

Ola Olaoluwa
Ola Olaoluwa

US authorities have given the Chinese owner of TikTok two additional weeks to divest the social media sensation in order to resolve national security concerns voiced by President Donald Trump’s administration.

According to a Vanguard report, a notice filed by TikTok owner ByteDance in federal court showed that authorities had extended the deadline originally set for November 12 to November 27.

Image Source: AlKaleej Today

The Trump administration, which has claimed that the popular video-sharing app could be used for Chinese espionage, has threatened to ban TikTok unless it is sold to American investors. But the ban has been challenged in the courts.

The latest filing said the deadline set by the Committee on Foreign Investment in the United States, which reviews corporate deals for national security implications, had been extended.

A statement from the US Treasury said the extension “will provide the parties and the Committee additional time to resolve this case in a manner that complies with the order” signed in August by Trump for ByteDance to reverse its acquisition of TikTok forerunner Musical.ly.

On Thursday, the Commerce Department said it would delay implementation of Trump’s policy to comply with a court order in TikTok’s favor.

The USA In Focus

Population: 365.9 million (Compared to China's 1.4 billion )

GDP: $23.118 Trillion (Compared to China's $14.3 trillion)

GDP Per Capita: $63,777 (Compared to China's $10,410)

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Ola Olaoluwa

Writer | Economist | Actor | Fashion Entrepreneur