TikTok is facing a new crisis after its ban in India a few months back. At the same time, talk on banning of the short-video platform was rising in the US. Now, after several days of the news, the US Government has issued 45 days of ultimatum to Bytedance to sell its US operations. The sale of its operations in the US is up for American companies to buy. Otherwise, it will be shutting down.
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Bytedance is suffering from a major loss by losing its major market in India already. However, if it loses the US market, it will suffer a setback.
Meanwhile, Microsoft also showed interest in acquiring TikTok’s operation and CEO Satya Nadela is in the conversation for the deal. In addition, it is looking to buy the the operations in United States, Canada, Australia, and New Zealand.
On the other hand, the US president said that he made a demand for a “substantial portion” of the purchase price to be paid to the US treasury. This is looking like an attack by the China Government as of now.
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A newspaper, China Daily (state-owned), published an article that reads, “China will by no means accept the theft of a Chinese technology company, and it has plenty of ways to respond if the administration carries out its planned smash and grab.”
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Bytedance has not commented yet on the situation. However, another newspaper in China, Global Times, called the sale a “daylight robbery.”
The situation of TikTok’s future in the US market is still blurry. Also, Trump’s Government is yet to explain why the US treasury should get a cut from the sale.
Now, all that’s left to see is how China retaliates to this move.
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