Sale, Tiktok, Microsoft

Sale, Tiktok

Trump: US should get 'substantial portion' of TikTok operations sale price

Trump: US should get 'substantial portion' of TikTok operations sale price

3/8/2020 9:58:00 PM

Trump: US should get 'substantial portion' of TikTok operations sale price

U.S. President Donald Trump said Monday the U.S. government should get a 'substantial portion' of the sales price of the U.S. operations of TikTok ...

BusinessU.S. President Donald Trump said Monday the U.S. government should get a"substantial portion" of the sales price of the U.S. operations of TikTok and warned he will ban the service in the United States on September 15 without a sale.

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U.S. President Trump holds executive order signing event in the Cabinet Room of the White House in Washington04 Aug 2020 02:45AMShare this contentBookmarkWASHINGTON: U.S. President Donald Trump said Monday the U.S. government should get a"substantial portion" of the sales price of the U.S. operations of TikTok and warned he will ban the service in the United States on September 15 without a sale.

The turnaround came after Trump Friday he said he was planning to ban the Chinese-owned video app's U.S. operations as soon as Saturday after dismissing a possible sale to Microsoft.AdvertisementAdvertisement"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. headtopics.com

It was not clear how the U.S. government would receive part of the purchase price.He added it"will close down on September 15 unless Microsoft or somebody else is able to buy it and work out a deal, an appropriate deal so the Treasury … of the United States gets a lot of money.

U.S. officials have said TikTok poses a national risk because of the personal data it handles. TikTok CEO Kevin Mayer said in a blog post last week that the company was committed to following U.S. laws and was allowing experts to observe its moderation policies and examine the code that drives its algorithms.

AdvertisementAdvertisementTrump's comments confirmed a Reuters report Sunday that he had agreed to give China's ByteDance 45 days to negotiate a sale of popular short-video app TikTok to Microsoft.Trump said he did not mind"whether it’s Microsoft or somebody else – a big company, a secure company, very, very American company buy it."

Microsoft said Sunday that CEO Satya Nadella had spoken to Trump and"is prepared to continue discussions to explore a purchase of TikTok in the United States."Microsoft said Sunday it is"committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury." headtopics.com

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Many prominent Republicans, including House Republican Leader Kevin McCarthy, issued statements in support of a Microsoft acquisition of TikTok's U.S. operations. Some congressional aides are worried about a backlash by younger voters against the party if Trump banned TikTok, which has 100 million American users.

Microsoft and TikTok parent ByteDance gave the U.S. government a notice of intent to explore a preliminary proposal for Microsoft to purchase the TikTok service in the United States, Canada, Australia, and New Zealand.U.S. Senate Democratic leader Chuck Schumer also backed the sale, while a senior White House adviser raised concerns about a sale to Microsoft.

"A U.S. company should buy TikTok so everyone can keep using it and your data is safe," Schumer said on Twitter, adding:"This is about privacy. With TikTok in China, it's subject to Chinese Communist Party laws that may require handing over data to their government."

White House trade adviser Peter Navarro suggested on Monday that Microsoft could divest its holdings in China if it were to buy TikTok."So the question is, is Microsoft going to be compromised?" Navarro said in an interview with CNN."Maybe Microsoft could divest its Chinese holdings?" headtopics.com

Navarro said the Chinese government and military use Microsoft software “to do all the things they do.”(Reporting by David Shepardson, Doina Chiacu, Susan Heavey, Echo Wang, Greg Rou and Pete Schroeder; Editing by Nick Zieminski and Lisa Shumaker) Read more: CNA »

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TikTok must be sold or blocked in US, says MnuchinTikTok must either be sold or blocked in the US due to national security concerns, Treasury Secretary Steven Mnuchin said Sunday in the latest ...