Today, President Trump signed an executive order that plans to effectively ban TikTok in America.
BREAKING: President Trump just issued an executive order "on Addressing the Threat Posed by TikTok." It takes effec… https://t.co/49mp8WSBJp— Hunter Walker (@Hunter Walker)1596762316.0
This order comes less than a week after Trump said to reporters that TikTok will be "out of business in the United States" on September 15th if ByteDance (TikTok's parent company) didn't sell to an American company.
There were major national security laws passed in Hong Kong by China that sparked the media company to exit the Hong Kong market place. An act that can be seen as one of solidarity for the people of Hong Kong who have fought against these national security laws for years.
However, ByteDance is located in China, which complicates the situation.
Since all of this happened Secretary of State Mike Pompeo came out alluding that something would be done about TikTok. And now Trump is taking direct actions against the media giant which boasts an outrageous 700 million global downloads and 40 million U.S. downloads.
TikTok has since responded to Trump's executive order calling out the Trump administration for not cooperating when they tried to work with the U.S. government.
Strong response from TikTok to Trump's Executive Order. https://t.co/WCCE5OMVEu https://t.co/quNZYwP1Pg— ¯\_(ツ)_/¯ (@¯\_(ツ)_/¯)1596788883.0
Microsoft has been in talks to acquire TikTok recently and has stated publicly that they will attempt to buy TikTok no later than September 15th — Trump's 45-day cutoff stated in his executive order.
However, Microsoft or any other buyer only needs a deal in place by September 15, not a deal that has already closed.
Update: WH official tells me that Microsoft (or another buyer) only needs to have an agreement in place with ByteDa… https://t.co/6c2Rx91FwR— Dan Primack (@Dan Primack)1596765304.0
So while it seems promising that TikTok will be sold to an American company, it is not a guarantee at this point. What is guaranteed is that the fate of TikTok in the U.S. is definitely at risk.