President Trump on Thursday issued an executive order barring any transactions between U.S. companies and the Chinese parent company of TikTok beginning in 45 days, the latest action in the administration’s campaign against the app.
The order essentially forces the parent company, ByteDance, to divest from TikTok, or face a ban from operating in the United States. The president had previously set a deadline of Sept. 15 for Microsoft or another American company to acquire the viral video app before he moved to ban it from operating in the U.S.
The executive order states that “the spread in the United States of mobile applications developed and owned by companies in the People’s Republic of China (China) continues to threaten the national security, foreign policy, and economy of the United States. At this time, action must be taken to address the threat posed by one mobile application in particular, TikTok.”
Trump, citing the International Emergency Economic Powers Act, declared that any transaction with ByteDance would be prohibited beginning in 45 days, which would be Sept. 20. Any company violating the order could face sanctions.
NEW – U.S President Trump signed an executive order banning any US transactions with the parent company of Tik Tok starting in 45 days, an effort to ban its use in the U.S. The executive order calls it a ‘national emergency.’ Will likely face court challenges.
— Richard Southern (@richard680news) August 7, 2020
BREAKING: President Trump signs executive order prohibiting any U.S. transactions with Tik Tok parent company in 45 days.
What we don’t know is what constitutes a “transaction”— that’s up to Commerce Department. pic.twitter.com/MfHHK4Rx9h
— Jay O'Brien (@jayobtv) August 7, 2020