Trump calls TikTok a hot brand, demands a chunk of its sale price

Today the president appeared to bless the budding Microsoft-TikTok deal, continuing his evolution on a possible transaction. After stating last Friday that he’d rather see TikTok banned than sold to a U.S.-based company, Trump changed his tune over the weekend. TikTok is owned by China-based company ByteDance, which owns a portfolio of apps and services.
A weekend phone call between Satya Nadella, the CEO of Microsoft, and the American premier appeared to change his mind, leading to the software company sharing publicly on Sunday that it was pursuing a deal.
Then today the president, endorsing a deal between an American company and ByteDance over TikTok, also said that he expects a chunk of the sale price to wind up in the accounts of the American government.
The American president has long struggled with basic economic concepts. For example, who pays tariffs. But to see Trump state that he expects to receive a chunk


Original URL: http://feedproxy.google.com/~r/Techcrunch/~3/tOgGdP1srL4/

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Trump Says TikTok Will Be Banned If Not Sold By Sept. 15, Demands Cut of Sale Fee

President Trump said Monday that TikTok will be shut down in the U.S. if it hasn’t been bought by Microsoft or another company by Sept. 15, and claimed that the U.S. Treasury should get “a very substantial portion” of the sale fee. From a report: Trump appears to have backed off his threat to immediately ban TikTok after speaking with Microsoft CEO Satya Nadella, who said Sunday that the company will pursue discussions with TikTok’s Chinese parent company ByteDance to purchase the app in the U.S. TikTok has come under intense scrutiny in the U.S. due to concerns that the vast amounts of data it collects could be accessed by the Chinese government, potentially posing a national security threat.

Read more of this story at Slashdot.


Original URL: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/qm7ZKKkZ-cM/trump-says-tiktok-will-be-banned-if-not-sold-by-sept-15-demands-cut-of-sale-fee

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