As Deadline Lapses, Trump Administration Continues TikTok Talks

WASHINGTON — The Trump administration will allow a Friday deadline for TikTok’s Chinese parent company to sell the viral video app to lapse, said a person with knowledge of the decision. But the government will continue to work on a deal that would put a larger slice of TikTok’s ownership in American hands, the person said.

The White House ordered the sale of TikTok’s U.S. assets in August over concerns that the app’s Chinese ownership posed a national security risk. ByteDance, the Chinese internet giant that owns the app, embarked on an effort to sell the app to American buyers and satisfy the administration’s concerns.

Under the terms of the proposed deal announced this year, ByteDance agreed to sell stakes in the app to Walmart and the enterprise software company Oracle. Oracle would also help manage TikTok’s data to alleviate concerns that Beijing could get access to information belonging to American users.

ByteDance had until Dec. 4 to sell the app under a White House order; the deadline had been extended multiple times. But while the White House did not extend the deadline for a deal again, it also plans to take no immediate action in response to the lapsed cutoff, said the person with knowledge of the discussions, who was not authorized to speak publicly. That will allow talks over a possible deal to continue.

Article source: https://www.nytimes.com/2020/12/04/technology/as-deadline-lapses-trump-administration-continues-tiktok-talks.html