Much ado about nothing – that’s the impression we’re getting with the Trump administration’s vendetta against TikTok. This is because yet another deadline has passed with little to no fanfare.
As you might be aware, TikTok parent company ByteDance was given until 4th December to finalise the sale of its app. That deadline has now passed and according to several reports, nothing is going to happen to TikTok.
The US government is neither extending the deadline nor is it enforcing the executive order which requires the sale of TikTok.
According to CNN, ByteDance and the Committee on Foreign Investment in the United States (CFIUS) are still engaged in negotiations.
The US Treasury reportedly said that CFIUS is, “”engaging with ByteDance to complete the divestment and other steps necessary to resolve the national security risks arising from the transaction, consistent with the President’s August 14 Order.”
But one has to wonder whether this sale will happen and by extension, whether TikTok will be banned in the US. While the Trump administration claimed that ByteDance and TikTok were a risk to national security, one has to wonder how big that risk was if the firm has been allowed to operate as is since August.
While TikTok could be sold to Oracle and Walmart, that deal has to be approved by CFIUS and China. Given we’re still waiting for CFIUS to approve this deal and China hasn’t said anything, we do wonder if by 21st January 2021, this whole matter will disappear.