ByteDance received a 15-day extension

ByteDance received a 15-day extension

Awarded The Trump administration, ByteDance Corporation, has extended a 15-day extension of an app withdrawal order that directed the Chinese company to sell an app Tik Tok To share short videos by Thursday.

The TikTok app disclosed for the first time the extension earlier in a court filing, saying: It now has until November 27 to reach an agreement.

Under pressure from the US government, ByteDance is in talks about a deal with Walmart and Oracle to transfer US TikTok assets to a new entity.

On Friday, the Treasury Department said: The US Commission on Foreign Investment (CFIUS) has given a 15-day deadline to provide the parties and the commission additional time to resolve the issue in a manner consistent with the order.

ByteDance filed a petition Tuesday with the U.S. Court of Appeals for the District of Columbia challenging the Trump administration’s order to withdraw the app.

On Tuesday, ByteDance said: The US Committee on Foreign Investment (CFIUS) is seeking to force it to sell Tik Tok.

President (Donald Trump), in an order issued on August 14, ordered the Chinese company to withdraw the app within 90 days.

The Trump administration claims TikTok poses national security concerns, saying that the personal data of American users can be obtained by the Chinese government.

TikTok, which has more than 100 million users in the United States, denies the allegations.

The ownership of the new company called TikTok Global – which will own the assets of TikTok in the United States – is a big problem.

ByteDance said in the court file on Tuesday: It has submitted a proposal that addresses US concerns by creating a new entity wholly owned by Walmart, Oracle and the existing US investors in ByteDance.

The new entity is supposed to be responsible for handling Tik Tok user data in the United States.

Federal courts have banned restrictions on TikTok from the US Department of Commerce, including restrictions on transactions that were due to take effect on Thursday.

Federal judges also banned a ban on downloading the app via the Google and Apple stores for new users in the United States, a ban that was scheduled to take effect on September 27.

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