President Trump said Monday he’s given the go-ahead for Microsoft to pursue the purchase of the TikTok, saying he would shut down the popular Chinese-owned video app by Sept. 15 if a sale isn’t completed by then.The president said the Treasury Department would need to receive “a lot” of money in return for authorizing any deal.
“A very substantial portion of that price is going to have to come to the Treasury of the United States,” the president said. “It’s a great asset, but it’s not a great asset in the United States unless they have the approval of the United States.”
Administration officials and lawmakers in both parties have said that TikTok poses a potential national security threat by giving Beijing access to American user data. The Chinese company Bytedance owns TikTok.
Microsoft is eyeing the purchase of either part or all of the company’s operation in the U.S.
