Money

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



© Reuters. FILE PHOTO: A 3D printed Tik Tok logo is placed on a keyboard in front of U.S. flag in this 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.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

READ  Johnson loses fresh attempt to hold snap election





READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.