President Donald Trump said he’s told people involved in the sale of the US assets of ByteDance’s TikTok that the deal must be struck by Sept. 15 and the federal government must be “well compensated,” or the service will be shut down, reported Bloomberg.
“I told them they have until Sept. 15 to make a deal — after that we close it up in this country,” Trump told reporters before boarding Air Force One for a trip to Kenosha, Wisconsin. “I said the United States has to be compensated, well compensated.”
It remains unclear how the US would collect compensation from the sale of TikTok. The president said last month that the popular video streaming app’s US operation had to be sold because its Chinese ownership makes it a national security threat.
“It’s difficult to tell now whether a deal will happen,” said Doug Barry, senior director of communications at the US-China Business Council. “Both countries want to dominate the key technologies of the future.”