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US will ban TikTok by September 15 unless an American company buys it, says Donald Trump

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Recently, President Donald Trump has announced that he is banning the Chinese-owned video-sharing app TikTok in the US. He told reporters he could sign an executive order as early as Saturday.

US security officials have expressed concerns over ByteDance, parent company of TikTok for sharing information with Chinese government. TikTok has denied the accusations of sharing data.

Microsoft was in talks to but TikTok form ByteDance. But after Trump’s statement Microsoft put its deal on hold as to wait for further notice.

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Donald Trump’s new statement

President Donald Trump gave popular Chinese-owned video app TikTok six weeks to sell its US operations to an American company, saying Monday it would be “out of business” otherwise, and that the government wanted a financial benefit from the deal.

“It’s got to be an American company… it’s got to be owned here,” Trump said. “We don’t want to have any problem with security.”

I set a date of around September 15, at which point it’s going to be out of business in the United States,” he said.

Whatever the price is, he said, “the United States should get a very large percentage of that price because we’re making it possible.”

“TikTok is a big success, but a big portion of it is in the country,” he said. “I think it’s very fair.”

“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 told reporters.

“They don’t have any rights unless we give it to them,” he said.

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