US not extending TikTok divestiture deadline, but talks expected to continue: Report
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 US assets.
By Reuters | Posted by Kanishka Sarkar | Washington/New York
UPDATED ON DEC 05, 2020 06:15 AM IST
The Trump administration on Friday opted not to grant ByteDance a new extension of an order requiring the Chinese company to divest TikTok’s US 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 US 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.
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