Monday , September 20 2021

Sale of US assets on TickTock There is no agreement between Washington and the Chinese group ByDance



(San Francisco) The United States and the Chinese group ByDance failed to reach an agreement on the sale of US funds to the TickTock application within the deadline imposed by the Donald Trump administration, which ended at midnight on Friday, we learned from a close source.






Glen Chapman
French media agency

Discussions continue between the Donald Trump administration and TickTock, and users of the popular lightweight video app should be able to continue using the social network in the United States on Saturday.

Contacted by AFP, the US Treasury Department and TickTock declined to comment.

The application of the Chinese group ByDance has been subject to a ban on American soil since Donald Trump signed the decree on August 14, which obliges ByDance to cede its activities in the country. The group had two consecutive delays until Friday.

The outgoing Republican presidential administration says TickTock poses a threat to “US national security”, suspecting the platform is leaking customer data in favor of China.

The social network rejects these accusations and launched a full court counter-offensive, which has so far resulted in several successes.

In late October, a federal judge temporarily blocked an executive order from President Donald Trump that would prevent TickTock from operating in the United States.

Three Internet users paid for their TickTock services have filed a lawsuit in Pennsylvania seeking the suspension of part of the ordinance that prohibits US companies from providing essential TickTock services, such as online hosting.

Following a separate appeal, a judge at a Washington court also blocked the Trump administration in late September in its bid to force mobile app platforms to withdraw TickTock.

Poker game

At the same time as this legal battle, the two sides were negotiating a solution, Donald Trump wanted to put TickTock under the American flag.

In September, he agreed in principle to an offer from ByteDance, stating that Oracle and Walmart would take a 20% stake in a company called TikTok Global, which is responsible for the global operations of the US platform and headquarters. -United.

But the president’s relatives believe that American investors should exercise majority control over the new entity.

Subsequently, the ByteDance position evolved, with the group proposing to set up a company to house its operations in the United States, suggesting that it would be willing to give up the majority.

According to Dan Ives, an analyst for Wedbush Security, BiteDance has every interest in continuing the situation in anticipation of the inauguration of Democrat Ido Biden in late January, whose government could bring a more moderate tone against China.

“In this poker game of fake poker, it is very likely that ByteDance will try to delay contract negotiations in the hope that the Biden administration will remove the executive order, which will be a fundamental change in US technology policy versus China versus China. “It is considered an ‘olive branch’ stretched out in Beijing,” the expert notes.

TikTok has 100 million users in the United States and 700 million worldwide.

Any deal concluded by ByteDance will also be subject to approval by Beijing, which imposes export restrictions on technologies developed by Chinese companies.

The well-known TickTock algorithm, which displays the content that users are most likely to be interested in according to their taste, is in the spotlight.

China wants to prevent this precious computer system from falling into the hands of the United States.




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