Mr Trump had ordered in August that the app be sold to an American firm or face a ban in the US But as the presidential election loomed in November and now with a new president-elect, TikTok seems to have slipped off the top of Mr Trump's agenda.
Mr Trump gave his blessing in mid-September to a preliminary plan in which ByteDance would sell part of TikTok to Oracle Corp, Walmart Inc and US investors Sequoia Capital, KKR & Co and General Atlantic, creating a new independent company called TikTok Global. But that deal has been stuck in limbo for months, and was quickly overshadowed by the US election and rising Covid-19 cases.
ByteDance has said its proposal would put American companies and investors in charge of data and content moderation for US users, a key demand of the Committee on Foreign Investment in the US, a panel led by the Treasury Department. The Treasury granted ByteDance its last extension a week ago because the department said it needed time to review a revised submission.
China also will eventually need to give its blessing to the deal. State media has spoken out against Mr Trump's order, and a foreign ministry spokesman called it"bullying". TikTok has filed multiple challenges against the ban, which are winding their way through the courts, with deadlines in certain proceedings extending past January.
Those cases could lapse when Mr Biden takes office in January, unless he decides to enforce the Trump ban and defend the previous administration's orders in court.For daily updates on weekdays and specially selected content for the weekend. Subscribe to
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