- TikTok ban in the US has been delayed by a week.
- US President Donald Trump gave a thumbs up to TikTok’s deal with Oracle and Walmart.
- TikTok’s interim head Vanessa Pappas too assured the users in the United States that the app is not going anywhere.
TikTok was supposed to be banned from the US app stores on Sunday but things did not happen as speculated. In an interesting turn of events, the US government has now delayed the ban on the Bytedance-owned short video app by a week until September 27. On Friday, it was reported that the department of commerce had ordered the app stores to remove TikTok and WeChat from their platforms.
"In light of recent positive developments, Secretary of Commerce Wilbur Ross, at the direction of President Trump, will delay the prohibition of identified transactions pursuant to Executive Order 13942, related to the TikTok mobile application that would have been effective on Sunday," the U.S. Treasury Department said in a statement.
The move was announced after US President Donald Trump gave a thumbs up to TikTok's deal with Oracle and Walmart. He called the deal "fantastic" and also said that he has given his "blessing" to it."If they get it done, that's great, if they don't, that's OK too," Trump was quoted as saying.
TikTok's interim head Vanessa Pappas too assured the users in the United States that the app is not going anywhere. She said that she disagrees with the national security threat in the app but understands the concerns raised by the US government.
"We're pleased that today we've confirmed a proposal that resolves the Administration's security concerns and settles questions around TikTok's future in the US. Our plan is extensive and consistent with previous CFIUS resolutions, including working with Oracle, who will be our trusted cloud and technology provider responsible for fully securing our users' data. We are committed to protecting our users globally and providing the highest levels of security. Both Oracle and Walmart will take part in a TikTok Global pre-IPO financing round in which they can take up to a 20% cumulative stake in the company. We will also maintain and expand the US as TikTok Global's headquarters while bringing 25,000 jobs across the country," she said in a blog post.
Earlier in August, Trump had signed an executive order against the Bytedance-owned short video platform and WeChat. He had granted TikTok only 90 days to sell its share to a US-based company or face a ban in the country. Trump had even refused to extend the deadline. The US President had called TikTok and WeChat a threat to "national security" in its executive order. Repeated threats by Trump was also the reason behind CEO Kevin Mayer's resignation only 100 days after joining the company.