The US authorities postponed the ban on the use of TikTok for another week
The administration of US President Donald Trump has postponed the ban on the use of the TikTok app in the country for another week, until December 4. This was reported by Reuters.
According to the agency, on November 25, the US International Investment Committee gave the Chinese company ByteDance a delay for another week, from November 27 to December 4. During this time, the American authorities will have to study new proposals from the Chinese side regarding the structure of the transaction, said a representative of the US Treasury.
The authorities explained that ByteDance made new proposals in November to meet all the necessary requirements. It is not yet known what its essence is, but this is the fourth package of changes that the company has sent. In its original form, a large stake in TikTok was supposed to go to the alliance of Walmart and Oracle, with the latter being responsible for processing and storing data of American users. Oracle should receive 12.5% of shares and the status of a minority investor, Walmart - 7.5%, and its representative will become a member of the board of directors. This deal was approved by the Trump administration.
US President Donald Trump signed the TikTok Threat Decree in August 2020. His administration said that the application can transfer the personal data of Americans to the Chinese authorities, which poses a threat to the country's national security. Trump demanded that TikTok be sold to one of the American companies, threatening the application with "going out of business."
In September, it became known that Walmart and Oracle could become potential buyers of the application. ByteDance began negotiations with companies that continue to this day. On September 28, a federal court temporarily suspended the ban on downloading TikTok in the United States because the country's government did not provide enough threats to national security. On November 12, the US Department of Commerce postponed the app lock for 15 days.