Exclusive: U.S. not extending TikTok divestiture deadline, but talks expected to continue – sources

FILE PHOTO: A 3D printed TikTok logo is placed on a keyboard in front of U.S. flag in this illustration taken October 6, 2020. Picture taken October 6, 2020. REUTERS/Dado Ruvic/Illustration

WASHINGTON/NEW YORK (Reuters) – The Trump administration on Friday opted not to grant ByteDance a new extension of an order requiring the Chinese company to divest TikTok’s U.S. assets, but talks between the company and government are expected to continue over the short video-sharing app’s fate, two sources briefed on the matter said.

Last week, the Committee on Foreign Investment in the United States granted ByteDance a one-week extension until Friday over the order to shed TikTok’s U.S. 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 Justice Department and Treasury Department did not immediately respond to requests for comment, while the White House did not comment. TikTok declined to comment.

Reporting by David Shepardson and Echo Wang; Editing by Daniel Wallis

Source link

Bluegrass Direct News

The Latest News Sports, and Relative Content