- They ask the government to postpone the deadlock of the transaction by 30 days.
- On October 30, the Pennsylvania Court issued an injunction requesting the government to suspend the implementation of the TikTok ban, which took effect on November 12.
- U.S. President Trump asked ByteDance to sell its business in the United States before November 12, citing national security concerns.
The Ministry of Commerce’s TikTok ban was originally scheduled to take effect on the 12th, and the Ministry of Commerce made this statement at the last minute, showing a change of position. The US Department of Commerce announced on Thursday (12th) that it will suspend the TikTok ban in compliance with the Penn State Court’s ruling on October 30.
But for ByteDance, this alone is not enough-they ask the government to postpone the deadlock of the transaction by 30 days. This shows that the position of the Ministry of Commerce has changed.
On October 30, the Pennsylvania Court issued an injunction requesting the government to suspend the implementation of the TikTok ban, which took effect on November 12.
Injunctions will seek ways to deal with the challenges brought about by legal judgments. Today, the Ministry of Commerce does not seem to be in a hurry to implement the ban.
U.S. President Trump asked ByteDance to sell its business in the United States before November 12, citing national security concerns. ByteDance filed a lawsuit in the US Federal Court of Washington on November 10, requesting an extension of the time limit.
ByteDance is already in negotiations with Wal-Mart and Oracle to establish a new company, TikTok Global. However, as there are still many uncertainties in the prospects, ByteDance issued a statement on Tuesday (10th) stating that the company has requested the government to extend the time limit by 30 days because “new requirements continue to emerge. Is there any possibility that the proposed plan will be accepted”.
Last month, the Ministry of Commerce prepared to remove TikTok from the mobile app store. ByteDance also filed a lawsuit in Washington. The case is still pending. The magistrate issued a preliminary injunction on September 27 and suspended the injunction from the Ministry of Commerce.
Trump continued to emphasize the need to impose a ban on TikTok, a fast-growing Chinese App and worried that its parent company, Bytedance, may provide user data to the Chinese government.
The United States said that if TikTok wants to get rid of the ban, the software’s operations in the United States must be handed over to a US company, but similar plans may require the approval of the Chinese government.
On the night of August 28, the Ministry of Commerce of China and the Ministry of Science and Technology jointly issued an announcement to make adjustments to the “China’s Export Prohibition and Restriction Technology Catalog”.
Artificial intelligence interactive interface technology and personalized information push service technology based on data analysis were added The removal of the restricted export list may affect TikTok’s sale of US businesses.
TikTok survival battle memorabilia
The Chinese firm said that 80 percent of TikTok Global is kept, a recently formed US-business company that controls much of the applications worldwide. Bytedance said TikTok Global is going to become its affiliate.
ByteDance said the planned rescue would not require “source coding or code transition,” noting that it aims to list the business on the US capital exchange. The comment seemed to dispute promises that US investors would pull TikTok’s strings in the future. Oracle and Walmart decided to invest in TikTok Global by 12.5% and 7.5%, respectively.