The President of the United States of America, Donald Trump says he will ban Chinese video application by September 15th, if Microsoft or other US companies do not acquire it.
The US government should get a “substantial portion” of the sale price of the US operations of popular short-video app TikTok, Trump said, and warned he will ban the service in the country on the said date without a sale.
Reuters reported last week that some investors are valuing TikTok at about $50bn, citing people familiar with the matter.
“I did say that if you buy it, whatever the price is that goes to whoever owns it, because I guess it’s China essentially … I said a very substantial portion of that price is going to have to come into the Treasury of the United States because we’re making it possible for this deal to happen,” Trump said on Monday.
Trump had earlier announced that plans were underway by his government to ban the fast-growing Chinese social media application.
This came as US authorities raised concerns that the service could be a tool for Chinese intelligence as US officials fear China may be using the popular video-sharing app for nefarious purposes.
- Gunmen kill monarch in Ondo - November 27, 2020
- North-East governors demand transfer of powers to prosecute terrorists to states - November 26, 2020
- Recession blues - November 26, 2020