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Trump orders TikTok's parent to sell its US assets

Sara Forden, Bloomberg News on

Published in News & Features

WASHINGTON -- President Donald Trump on Friday ordered the Chinese owner of the popular music video app TikTok to sell its U.S. assets, citing national security concerns.

Trump's decision came after an investigation by the Committee on Foreign Investment in the U.S., which reviews acquisitions of American businesses by overseas investors. ByteDance Ltd. bought the app Musical.ly in 2017 and merged it with TikTok.

Trump said in the order released Friday night that ByteDance "might take action that threatens to impair the national security of the United States."

Treasury Secretary Steven Mnuchin said in a statement, "CFIUS conducted an exhaustive review of the case and unanimously recommended this action to the president in order to protect U.S. users from exploitation of their personal data."

The White House did not immediately respond to a request for comment Friday night. TikTok also didn't immediately comment on the new order.

 

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